Two milk processing plants changing hands
Two large milk processing plants in New Zealand are changing hands.
New Zealand’s second largest milk processor, Open Country Dairy is offering suppliers a fixed milk price of $6.05/kgMS for the next season.
OCD chief executive Steve Koekemoer has told suppliers that it wants to remove volatility wherever possible; the full-season fixed milk price programme is a great tool to assist in this regard.
“The initial fixed price offer for the upcoming season is set at $6.05/kgMS and has seen great support so far,” he told suppliers in OCD’s latest newsletter.
The offer closes on February 16.
Depending on customer demand, OCD plans to roll the fixed milk price programme out every year between January and April for the upcoming season.
“This programme is voluntary and will always be back to back between farmer suppliers and customers to ensure risk is covered,” he says.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.
The world’s largest milk company Lactalis has won the bid for Fonterra’s global consumer and associated businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
It took a stint at university to remind Otago dairy farmer Megan Morrison that being stuck in a classroom was not for her.