increase font size
Chief executive Toni Brendish.
Hokitika-based Westland Milk Products, New Zealand’s second largest dairy co-operative, has lifted its payout prediction for the 2016-17 season to a net range (after retentions) of $5.30 to $5.70/kgMS.
The cooperative’s previous estimate for the season was a net range of $4.55 to $4.95/kgMS.
Chief executive Toni Brendish says the lift in payout prediction has been made possible by two factors.
“Firstly,” she says, “global dairy market prices have increased and Westland has been able to take advantage of that.
“Secondly, we have made a number of improvements to the efficiency of our production and quality assurance processes resulting in savings that can be passed on to shareholders.”
Brendish says the global dairy market remained volatile and industry commentators did not have a consensus on where final payout figures were likely to settle.
“The improvements in the market give us sufficient confidence to take a cautiously optimistic approach and raise our payout prediction accordingly.”
Brendish says that Westland would also raise its advance payout rate to shareholders to $4/kgMS (up from $3.80).
OPINION: This old mutt well remembers the wailing, whining and gnashing of teeth by former West Coast MP and Labour Agriculture Minister Damian O’Connor when Chineseowned Yili took over the troubled dairy company Westland Milk a few years back.
Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following two seasons.
Not all milk processors in New Zealand are struggling; just look at Westland Milk Products on the West Coast.
Dairy farmers supplying Chinese-owned Westland Milk Products in Hokitika had another reason to celebrate this holiday season.
West Coast milk processor Westland Milk Products says its suppliers have helped the company move up global independent rankings for corporate social responsibility.
Next month, the Beef Breeder Forum is set to give farmers an opportunity to hear about the latest developments in the beef industry.
ACC and Safer Farms have announced a new partnership in an effort to reduce harm, injuries, and fatalities in agriculture.
A Franklin dairy farmer has inched closer to national victory after being crowned Northland’s top young farmer.
Dairy and beef farmers could be eligible for lower interest lending options for financing Halter on their farms, with ANZ, ASB and BNZ now offering a pathway to sustainability loans for New Zealand’s largest virtual fencing provider.
OPINION: Will the latest science reforms make the difference that the government hopes?
Increased farmer spending on genetics and animal health has boosted LIC’s half-year profit.
OPINION: A mate of Milking It’s was recently walking down the main street of the hub of the Horowhenua, Levin,…
OPINION: Donald Trump may fancy, and like to get, a Nobel prize for peace, but his chances of getting on…
