Takeover bid?
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
Synlait Milk has reaffirmed its milk price forecast of $6.50/kgMS for the 2017-18 season.
However, the company has signalled that this forecast is dependent on commodity prices continuing to firm for the rest of the season.
“Our price of $6.50/kgMS has remained in place since May 2017, but global pricing remains unpredictable,” says John Penno, Synlait managing director.
“It is too early in the season to give pricing certainty, but we believe there may be a period of price stability over the coming months.
“Milk prices have largely been dropping since October, but over the past month the strengthening outlook for the global economy, subsequent rising general commodity prices, and the reduced milk production forecast due to difficult weather conditions, have seen dairy commodity prices strengthen,” he says.
Synlait’s next milk price update for the 2017 -18 season will be in May.
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.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
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.