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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."
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
OPINION: Farmer shareholders of two of New Zealand's largest co-operatives have an important decision to make this month and what they decide could change the landscape of the dairy and meat sectors in New Zealand.
OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.
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Established in 2021, the John Deere Technician of the Year Awards champion the important contribution parts and service technicians make to the Australian and New Zealand agriculture, construction and forestry industries.
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Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
