Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Rural Contractors NZ (RCNZ) is concerned about Fonterra's moves to extend the time it takes to pay contractors as part of an efficiency drive.
The organisation represents NZ's agricultural contractors and its concerns come in the wake of reports that Fonterra has extended by two months the time it takes to pay suppliers; while also asking them to cut their charges.
The dairy co-op has defended the move as about boosting efficiency.
RCNZ president Steve Levet says this is not the type of action an industry-leader like Fonterra should be undertaking.
"It sends a terrible message to farmers. That it is ok to delay paying suppliers and that is not on," Levet says.
"We all understand the dairy sector is undergoing a very, tough period. But this should not be used as an excuse to not pay contractors in a fair and timely manner."
Levet believes dairy farmers – many who will be making a loss this year – would not approve of such action and he does not want to see them to take a similar stance with their own suppliers.
"Dairy farmers – on the whole – are good and fair people, but when Fonterra takes a stance like this – they make think it is ok for them to do the same.
"I can tell you rural contractors are hurting just as much as dairy farmers. The last thing we need is for people to delaying paying us or trying to dictate pricing. We all have to live."
Levet calls on dairy farmers to pressure Fonterra to ensure it treat its contractors fairly.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.