Record $10/kgMS milk price forecast means extra cash for Fonterra farmers
A record $10/kgMS opening forecast milk price for the new season means more money into Fonterra farmers pockets early, says Federated Farmers dairy chair Richard McIntyre.
Fonterra’s disastrous financial result is trending on social media today, with former chief executive Theo Spierings' pay a focal point.
Much of the criticism and shock on Twitter have been directed towards the revelation that former chief executive Theo Spierings took home $8 million in salary and bonuses — for the second year in a row.
Dave Macpherson, Hamilton describes the pay as “a rip-off”.
“Dutch Fonterra boss gets $8.1m as he leaves on the back of Fonterra’s $196m annual loss,” he tweeted.
Paul Brislen replied that he could “efficiently lose $200m for the company and I’ll do it for half!”
Sharemilker Melissa Slattery thinks there’s something wrong with the long-term incentive pay at the co-op.
“What is Fonterra doing to stop repeat for management pay?
“Grinds my gears why is CFO at the time of making those decisions still employed by Fonterra.”
Former Agriculture Minister and opposition agriculture spokesman Nathan Guy also had his say on Fonterra’s poor results.
He tweeted that the results are very disappointing.
“The board and management will need to explain the ‘why’ & importantly what’s the go forward plan?.
“Farmers do the hard yards producing the milk & must see big improvements in performance. Regional NZ and the economy relies on a strong Fonterra.”
Rural Women New Zealand (RWNZ) says it is delighted by the Government’s announcement that it would invest $250,000 in the organisation.
The road between Napier and Wairoa is on the mend.
Biosecurity remains the top priority for agribusiness leaders, according to KPMG's 2025 Agribusiness Agenda released last week.
Farmers are feeling more satisfied with their banks, but the situation remains fragile, says Federated Farmers.
Environment Canterbury has confirmed a surge in interest in new dairy conversions, with four effluent discharge permits for conversions granted since the start of the year.
Probably the smoothest season growers can remember. That's how Kiwifruit Growers Association (NZKGI) chief executive Colin Bond describes the situation with fruit picking just past its peak.
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