Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Fonterra has welcomed Horizons Regional Council's approach to implementing its nutrient management requirements.
It says the pragmatic approach would give farmers time to move in the right direction without significant economic risks to farms or to the region.
The council has announced while existing intensive farming in some parts of the Manawatu-Wanganui region will require a consent, these will be granted, with the consent's duration depending on the ability of the farm's owner to reduce nitrogen leaching.
Fonterra's managing director cooperative affairs Todd Muller says the council has taken a realistic approach to mitigate economic risks to the region.
"Nobody argues with the need to improve nutrient losses given their potential impact on waterways, but what caused concern was the proposed pace of change and the immediate impact this would have on many farms, as well as the local economy.
"While the council remains committed to its goals to reduce losses, it has also taken into account the fact that farmers need time to adjust. It has also acknowledged that farms are not beginning from a standing start. Our farmers have already put significant effort into reducing losses and with our support, will continue to make good progress."
Muller agreed with comments by council chairman, Bruce Gordon that farmers had done a huge amount in the past decade to reduce their impact in the region, with dairy effluent compliance rate of 93% among the highest in the country and significant planting and fencing undertaken around waterways.
"We have long recognised the effort put in by farmers and advocated consistently on our farmers' behalf. It is important to acknowledge the council's willingness to engage with Fonterra as well as DairyNZ and Federated Farmers, consider our points of view and take it into account when planning implementation of the One Plan. This is a constructive approach and we are confident we can build on it and get the progress council wants towards its nutrient loss goals. Farmers do recognise the need for change and those in the lead are encouraging others to follow.
"We will keep up the effort and our Supply Fonterra programme is designed to keep that effort focused so farmers are clear on loss risks for nutrients, what they can do to address them and how they can measure progress."
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.