Suitors line up
OPINION: As Fonterra's divestment of its Oceania and global consumer businesses progresses, clear contenders are emerging.
Fonterra has sold its 9% stake in Australian cheese processor Bega Cheese for A$74 million.
The co-op purchased its shareholding in 2013, amid a takeover battle for Australian processor Warrnambool Cheese and Butter; Bega unsuccessfully bid for WCB.
Fonterra chief financial officer Lukas Paravicini says they are focused on investing in higher value add dairy products that deliver the best returns for shareholders.
Releasing capital, such as through this sale, for future growth is the best use of our shareholders' funds, he says.
The sale of Fonterra's shareholding has no implications for its long-standing relationship with Bega, which includes a license on the Bega brand and a supply contract for cheese.
"The Bega brand has an important role in our cheese portfolio where we are a market leader, and we will continue to build on our relationship with Bega which goes back more than a decade," says Paravacini.
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.
OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.