Fonterra trims board size
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
A new bill detailing proposals to oversee Fonterra’s farm gate milk price setting and ensure a more transparent and efficient dairy market was tabled in Parliament yesterday by Primary Industries Minister David Carter.
“Because of Fonterra’s dominance in the New Zealand market, the price it pays its farmers for milk at the farm gate effectively becomes the default price all dairy processors must pay to attract supply from farmers,” says Carter.
“The Dairy Industry Restructuring Amendment Bill will oversee how Fonterra sets the price it pays its farmers, thereby ensuring a competitive and innovative dairy industry.
“The proposed regime will give confidence that the aim of the Dairy Industry Restructuring Act – to drive efficiency in the dairy industry through contestable milk supply – is being met.”
Carter says the bill will primarily embed Fonterra’s current milk price governance arrangements in legislation, require Fonterra to publicly disclose information on its milk price setting and introduce an annual milk price monitoring regime to be undertaken by the Commerce Commission.
The Bill also includes changes that enable Fonterra to move to its proposed Trading Among Farmers (TAF) system, should it choose to.
Carter says potential changes to the Raw Milk Regulations are still being considered and an announcement on these is expected shortly.
Prime Minister Christopher Luxon says the relationship between New Zealand and the US will remain strong and enduring irrespective of changing administrations.
More than 200 people turned out on Thursday, November 21 to see what progress has been made on one of NZ's biggest and most comprehensive agriculture research programmes on regenerative agriculture.
The a2 Milk Company (a2MC) says securing more China label registrations and developing its own nutritional manufacturing capability are high on its agenda.
Stellar speakers, top-notch trade sites, innovation, technology and connections are all on offer at the 2025 East Coast Farming Expo being once again hosted in Wairoa in February.
As a guest of the Italian Trade Association, Rural News Group Machinery Editor Mark Daniel took the opportunity to make an early November dash to Bologna to the 46th EIMA exhibition.
Livestock can be bred for lower methane emissions while also improving productivity at a rate greater than what the industry is currently achieving, research has shown.
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