Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
An independent inquiry into the circumstances of quality issues with a whey protein concentrate (WPC80), announced by Fonterra's Board early this week, is now underway.
Inquiry chairman and Fonterra independent director Sir Ralph Norris says the first Inquiry Committee meeting has been held and has confirmed terms of reference for the inquiry and noted the appointment by the Fonterra board of a further independent member – Professor Stuart McCutcheon, vice-chancellor of the University of Auckland – who will join the committee, effective immediately.
"Professor McCutcheon is a respected New Zealander whose independence, strong credentials as a scientist, and governance experience will further ensure the inquiry is conducted at the right level and addresses the right questions without fear or favour," Sir Ralph says.
Professor McCutcheon holds a PhD, has completed post-doctoral work as a Harkness fellow at Cornell University and published extensively in the fields of endocrinology and metabolic physiology. He is a previous director of the New Zealand Dairy Research Institute, the Malaghan Institute of Medical Research and is presently chair of the Universities New Zealand Research Committee.
Professor McCutcheon joins retired High Court Judge Dame Judith Potter as the two independent members on the committee, alongside five Fonterra Directors, and Chapman Tripp QC, Jack Hodder, who is undertaking a review of events for the committee.
To assist with technical aspects of this review the WPC80 Inquiry Committee has also confirmed the appointment of an international expert on the manufacturing and safety of foods and food components. He is Jacob Heida, an expert in whey production processes and standards for infant food ingredients and current member of the Disciplinary Committee of the Netherlands Controlling Authority for Milk and Milk Products.
"With work now underway, the Committee is focused on a thorough and independent investigation into all relevant aspects of the WPC80 quality issue and will speak further about the findings of the inquiry when our deliberations are complete," Sir Ralph says.
Legal controls on the movement of fruits and vegetables are now in place in Auckland’s Mt Roskill suburb, says Biosecurity New Zealand Commissioner North Mike Inglis.
Arable growers worried that some weeds in their crops may have developed herbicide resistance can now get the suspected plants tested for free.
Fruit growers and exporters are worried following the discovery of a male Queensland fruit fly in Auckland this week.
Dairy prices have jumped in the overnight Global Dairy Trade (GDT) auction, breaking a five-month negative streak.
Alliance Group chief executive Willie Wiese is leaving the company after three years in the role.
A booklet produced in 2025 by the Rotoiti 15 trust, Department of Conservation and Scion – now part of the Bioeconomy Science Institute – aims to help people identify insect pests and diseases.
President Donald Trump’s decision to impose tariffs on imports into the US is doing good things for global trade, according…
Seen a giant cheese roll rolling along Southland’s roads?