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.
Fonterra and the Dairy Companies Association of New Zealand (DCANZ) heads are both disappointed in the Trans Pacific Partnership (TPP) agreement on dairy but there are "useful gains".
Fonterra chairman John Wilson says the conclusion of the TPP agreement in Atlanta, USA, overnight was a small but significant step forward for the dairy sector.
"TPP has been an enormous undertaking," says Wilson, returning from Atlanta. "While the dairy outcome is far from perfect, we appreciate the significant effort made by Minister (Tim) Groser and his negotiators to get some gains in market access for our farmers.
"Dairy has been very hard to resolve and New Zealand has managed to get some progress against the odds. Our team has done well to lift the deal from where it stood at the ministerial meeting in Maui.
"While I am very disappointed that the deal falls far short of TPP's original ambition to eliminate all tariffs, there will be some useful gains for New Zealand dairy exporters in key TPP markets such as the US, Canada and Japan. Greater benefits will be seen in future years as tariffs on some product lines are eliminated."
Wilson says the entrenched protectionism demonstrated by the US dairy industry in particular had ensured that the deal on dairy failed to reach its potential.
The Dairy Companies Association of New Zealand (DCANZ) acknowledges the hard work that Groser and his team have put into concluding the TPP negotiations.
DCANZ says it is disappointed that the agreement has not delivered a more significant opening of TPP dairy markets, but knows that New Zealand negotiators made every effort to secure as much new access for dairy as possible.
"It was always going to be very hard given the starting point for dairy as one of the most protected sectors globally" says DCANZ chairman Malcolm Bailey.
"While further market opening is needed to help address price volatility in the global dairy market, the deal does contain some useful improvements.
"We thank Minister Groser and his team for the hard line they took to secure these new export opportunities for New Zealand dairy in the face of immense pressure from entrenched protectionist interests."
DCANZ will be undertaking a complete assessment of outcomes as fuller details of the TPP deal for dairy becomes available.
DCANZ understands the deal also includes positive outcomes for other agricultural products, and is pleased that other New Zealand primary sectors will see benefits. The good outcomes for other agricultural exports will help to demonstrate that free trade should not be feared, and by doing so create a platform for further opening of dairy markets.
"Removal of distortions from global dairy markets remains a key priority for DCANZ," says Bailey. "We will be looking closely at the trade policy landscape over the coming weeks, and talking to the government, to define a pathway forward."
Animal rights organization, SAFE says the government needs to maintain the ban on live exports.
New findings from not-for-profit food supply and distribution organization, the New Zealand Food Network (NZFN) have revealed a 42% increase in demand for food support in 2023 compared to 2022.
New data released by LIC and DairyNZ shows New Zealand dairy farmers have achieved the highest six week in-calf rate and lowest notin- calf rate on record.
Christchurch City Council and the Canterbury Agricultural and Pastoral Association (CAPA) have signed an agreement which will open more of Canterbury Agricultural Park for public use while helping to provide long-term certainty for the A&P Show.
This year’s Fieldays will feature a Rural Advocacy Hub - bringing together various rural organisations who are advocating for farmers and championing their interests as one team, under one roof, for the first time.
ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.