Fonterra consumer business sale price jumps to $4.22b
The sale price of Fonterra’s global consumer and associated businesses to the world’s largest dairy company Lactalis has risen to $4.22 billion.
Fonterra's December milk collection was down 4.8% versus the same month in 2015.
In the North Island, milk collection was down 6% year-on-year, while milk collection in the South Island fell 2.9% for the month, according to My Farm agri global report for January.
Meanwhile, while consistent rain and low summer temperatures have kept grass green and growing in most parts of the North Island, though dry conditions prevail in Northland and Hawke’s Bay.
In Northland cows are being milked on supplements with the region reportedly at its driest for 10 years, affecting production.
However, pastures in the South Island are much greener, as a mild summer has created excellent conditions for grass growth.
In North Canterbury, farms have moved out of the drought, however in Southland rain, warmth and sunlight have all tracked below normal in recent weeks, putting pressure on pasture.
But palm kernel expeller (PKE) imports have tanked, accord to the report.
During the first 11 months of 2016, PKE imports declined 29% versus the same period in 2015 to 1.36mt.
On this basis, PKE imports in 2016 were the lowest since 2012 (1.16mt), suggesting plentiful local stocks as a result of strong purchases during late 2015 and early 2016, and reduced supplement use in the prevailing low farmgate price environment.
"Unwelcome" is how the chief executive of the Horticulture Export Authority (HEA), Simon Hegarty, describes the 15% tariff that the US has imposed on primary exports to that country.
Fertiliser co-operative Ballance has written down $88 million - the full value of its Kapuni urea plant in Taranaki - from its balance sheet in the face of a looming gas shortage.
The Government and horticulture sector have unveiled a new roadmap with an aim to double horticulture farmgate returns by 2035.
Canterbury farmers and the Police Association say they are frustrated by proposed cuts to rural policing in the region.
The strain and pressure of weeks of repairing their flood-damaged properties is starting to tell on farmers and orchardists in the Tasman district.
The sale price of Fonterra’s global consumer and associated businesses to the world’s largest dairy company Lactalis has risen to $4.22 billion.
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