Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra Shareholders Council says the co-op's 45c drop in the 2015-16 forecast payout is a sobering blow to farmers.
Council chairman, Duncan Coull, says today's announcement of a 45 cent fall in the 2015-16 forecast Farmgate Milk Price, from $4.60/kgMS to $4.15/kgMS, is one that will further amplify the effects of the current low milk price environment on Farmers and their businesses.
"Farmers are very aware that this is a global story which is now having a significant local effect. Strong supply out of Europe coupled with flat demand is driving market sentiment as evidenced by the GDT results.
"While acknowledging that the milk price is something that is largely out of our co-op's control, farmers are always looking to the Board to communicate any significant price fluctuations that occur throughout the season in a very timely manner.
"Looking forward our Farmers will be expecting our co-operative model, which sees shareholders benefit from milk price and the value-add side of the business, to deliver for them in terms of the total available for payout.
"In the interim I encourage farmers to sit down with their rural professionals and seek guidance on how best to navigate through these tough times.
"Of equal importance is that they stay connected to their communities, and engaged with their co-op, especially in the current environment."
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
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