Fonterra on track to deliver $1bn capital
Fonterra remains on track to deliver around $1 billion of capital to farmer shareholders and unit holders in two years.
The Fonterra Shareholders' Council, which represents the cooperative's 10,500 Farmer Shareholders, said it was important for regional councils to work closely with affected farmers and re-examine nitrate level targets following the announcement by Ravensdown and Ballance to suspend the sale and use of Dicyandiamide (DCD) treatment on farm.
The decision was prompted after minimal levels of the nitrate inhibiter were found in dairy product samples and while its presence poses no health risk the suspension of its use is seen by all parties as a pragmatic, proactive move.
Shareholders' Council chairman, Ian Brown: "Fonterra Farmers and regional councils have been working hard to develop plans for reducing nitrate levels and greenhouse gas emissions on farm and DCD was identified as an efficient way of achieving these.
"The outcome is disappointing for all stakeholders and will affect the ability of around 400 farmers to meet the nitrate level targets which were set based on the ongoing use of DCD - targets they have been working hard to meet.
"We are confident that regional councils and all stakeholders will continue to work closely with Fonterra and our affected farmers in order to review the targets."
Farmers in the Australian state of New South Wales will soon be able to use virtual fencing and herding technology to boost farm productivity.
Hawke's Bay teenage entrepreneur Hugo Moffett is helping the rural community access cheaper school uniforms, all without leaving their homes.
As part of preparing for a potential IPO in relation to the divestment process for its global Consumer business and integrated businesses Fonterra Oceania and Sri Lanka, Fonterra has named Anne Templeman-Jones as chair-elect of the Audit and Risk Committee for the Mainland Group board.
There's been a positive response to the Government's latest move to make freshwater farm plans more practical and affordable.
Massey University has begun trialling the use of superior beef genetics in its two dairy farms as part of Beef + Lamb New Zealand's dairy beef progeny test.
The annual Featherston Booktown Karukatea Festival – a fusion of books and storytelling - celebrates its 10th anniversary this year.
OPINION: Forests planted for carbon credits are permanently locking up NZ’s landscapes, and could land us with more carbon costs,…
OPINION: NZ farming is built on hard work, but also on innovation, a lot of which came about thanks to…