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Fonterra chair Peter McBride.
Fonterra chair Peter McBride hopes the Government reaches a decision on its new capital structure before the end of the year.
As 100 Fonterra farmers gathered for its annual meeting in Rotorua last week, the primary production select committee released its report on the legislative changes to the Dairy Industry Restructuring Act (DIRA).
McBride says it's another key milestone in the legislative process.
"We remain hopeful that the Government will reach a decision before the end of the year, after which we will move to the Flexible Shareholding structure as fast as possible."
In the past few years, the co-op has moved its strategy away from a global-volume play to a focus on deriving value from sustainable New Zealand milk.
McBride says that strategy is starting to deliver - as demonstrated by this year's milk price and earnings performance.
"Our customers are at the heart of our strategy.
"We will achieve our performance targets by continuing to deliver products to market in a way that meets their changing expectations."
McBride told the meeting that 73% of global consumers find sustainability pledges important when buying dairy products.
He says it's great news for a co-op that's strategy is focused on New Zealand milk and being a leader in sustainability.
"New Zealand dairy farmers already have the world's lowest carbon footprint.
"If we can maintain that advantage, we have an excellent opportunity to build mutually beneficial relationships with our premium customers.
"Maintaining a sustainable supply of that New Zealand milk, in an environment where we expect the country's total milk volumes to decline, has been a key priority for board and management over the past few years."
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
OPINION: Sydney has a $12 million milk disposal problem.
OPINION: Canterbury milk processor Synlait's recovery seems to have hit another snag.
