Still a slow boat to China!
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Independent milk processor Synlait says Covid-19 has so far had no impact on its financial performance, however the processor remains greatly concerned.
The nation’s third-largest dairy company wrote to its shareholders this week that it has adopted the Government’s strategy to ‘flatten the curve’.
Synlait says it has taken steps to restrict all people movements wherever possible, reviewing all roles for their suitability to work from home and keeping their China office closed.
“While we can confirm there has been no material short-term impact on our financial performance in connection with Covid-19, it represents some downside risk going forward.
“This was a factor in Synlait’s decision to issue a wider guidance range back in February.
“Demand indications from The a2 Milk Company suggest Covid-19 had a positive impact on consumer-packaged infant formula sales in the first two months of the 2020 calendar year, however the company was unable to quantify the FY20 impact,” Synlait wrote to its Shareholders.
Synlait says it has experienced no significant operational impact, but the company is seeing pressure on its broader supply chain, particularly in relation to space availability and shipping schedules.
Synlait says its team is “working closely” with logistic partners to assist in understanding capacity and scheduling.
“As New Zealand’s largest infant nutrition manufacturer, Covid-19 concerns us greatly and our incident assessment team is reviewing the situation and updating our response daily.
“We are deeply committed and connected to China, the customer partnerships we have there, and the role that we play in providing infant nutrition to many families across China.”
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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