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.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.