Fonterra to offload iconic brands
Fonterra says the sale of its global consumer business and its Oceania and Sri Lankan operations could take 18 months to complete.
Fonterra farmers who borrowed money from the co-op during the last two seasons will soon learn how much interest will be charged from June 1.
The co-op still has $370 million in loans outstanding.
Chairman John Wilson says farmers were told they would have to start paying back the loan once the payout exceeded $6/kgMS; interest will be charged from June 1. He says the co-op will tell them the rate in the coming weeks.
“We will use the strength of the co-op to ensure the interest rate is appropriate.”
Wilson believes the loans were a “good fill-up at the time” for cash-strapped farmers.
Meanwhile directors and management will hold 36 meetings with shareholders this week, to brief farmers on the co-op’s half-year results and the global dairy outlook.
The Ministry for the Environment (MfE) has found itself in a stoush with NZPork over the controversial National Policy Statement for Highly Productive Land (NPS-HPL).
Fonterra says the sale of its global consumer business and its Oceania and Sri Lankan operations could take 18 months to complete.
The lobby group the Methane Science Accord (MSA) says it welcomes a recent government move to seek outside advice on reducing biological methane targets, rather than relying on recommendations made by the Climate Change Commission.
Well-known scientist Jock Allison has passed away.
After a decade of consultation and court battles, Environment Southland has officially adopted a plan to prevent further decline in the region's water quality.
Farmers are throwing down the gauntlet to politicians - hold an independent inquiry into rural bank lending or face tough questions from the farming sector.