ORC piling more regulation on farmers - Feds
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Federated Farmers Waikato president Andrew McGiven says it’s up to Fonterra’s leadership to reverse its awful financial result.
“It was certainly disappointing and the size of the loss was surprising,” McGiven told Dairy News.
“But the ball is now firmly in the directors’ and senior management’s court as to how they review/revise the strategy to reverse this result.
“The key to this will be an improved communication and PR strategy towards shareholders and suppliers to ensure there is improved confidence from the grassroots so that milk supply is guaranteed.”
McGiven says while the $196 million net loss was “exacerbated by the Danone payout and the Beingmate writedown,” it’s not a good look for the co-op.
At its results announcement, chairman John Monaghan said the co-op is being clear with farmers and unitholders on what it will take to achieve the forecast earnings guidance.
“For the first time we are sharing some business unit specific forecasts. Among others, these see the ingredients and consumer and foodservice businesses achieving an EBIT of between $850 million and $950 million, and between $540 million and $590 million, respectively.
Lifting the performance of the co-op is a key priority for FY19, Monaghan said.
“We are taking a close look at the cooperative’s current portfolio and direction to see where change is needed to do things faster, reduce costs and deliver higher returns on our capital investments.
“[We will assess] all investments, major assets and partnerships against our strategy and target return on capital,” Monaghan says.
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
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