Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
Fonterra has paid $30 million to boost its stake in struggling Chilean milk processor Prolesur.
The 13.6% stake bought from Fundación Isabel Aninat takes the co-op’s stake in Prolesur to 99.9%.
Prolesur, based in southern Chile which sells most of its production to Soprole, a leading consumer branded dairy company in Chile and is 99.9% owned by Fonterra.
The remaining 0.1% of Prolesur’s shares are held by minority shareholders, which Fonterra will offer to purchase at the same price per share being paid to the Fundación for its shareholding.
Fonterra chief executive Africa, Middle East, Europe, North Asia and the Americas (AMENA) Kelvin Wickham says the acquisition allows Fonterra to simplify the interface between Prolesur and Soprole and take steps to better integrate the two businesses.
Both Prolesur and Soprole have faced challenging trading conditions in recent years.
“Having the two more closely integrated will generate operating efficiencies across the supply chain from milk collection, to processing and administration,” says Wickham.
“It also allows us greater flexibility as we focus on realising the best value for the co-op from our businesses in Chile in line with our new strategy.”
Fonterra’s new strategy focuses on using mostly milk from its New Zealand farmer suppliers to supply dairy products around the world.
It is looking at streamlining overseas milk pools; China, Chile and Australia.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
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