RWNZ chief executive to step down
Rural Women New Zealand (RWNZ) chief executive Gabrielle O’Brien will step down at the end of June.
NZ’s second-biggest dairy processing company says it is taking a pragmatic and cautious approach, as it deals with the impact of COVID-19.
In the latest TalkMilk newsletter to shareholders, Open Country Dairy (OCD) chairman Laurie Margrain says the company’s balance sheet is in an ‘extremely conservative position’ and it will continue to preserve capital.
However, he says this does not mean OCD will not consider investments that will ‘enhance the future capacity of the business to perform strongly and pay suppliers well’.
Margrain adds that the company’s approach has always been to value capital highly and only invest when it can see clear and obvious benefits to all stakeholders – including its farmer suppliers.
“That being the case, we are taking a very cautious approach to the investment plans we currently have,” he explains. “We have continued to make all the required preparations for those investments, but we are being cautious for now.”
Margrain says paying farmer suppliers earlier than other dairy companies remains the company’s paramount focus.
“We were pleased to do so again in late March,” he wrote. “Your financial health is important and working to benefit your cash flows is our priority.”
Meanwhile, Margrain told farmer supplier it was pointless trying to predict the timeframe and steps of the current COVID-19 situation.
“We can only control what we can, have belief in the fact we will come out of this and do your best for New Zealand.”
He says dairy farmers may even get to enjoy the fact that the sector is now getting more credit for the positive aspects of its importance to New Zealand.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
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