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As an investor in Beingmate, Fonterra only has access to publicly available information on the company’s performance.
Fonterra says it is committed to being transparent with farmer shareholders on its Beingmate investment.
The co-op says as an investor in Beingmate, it only has access to publicly available information on the Chinese company’s performance.
“When we have a meaningful update on Beingmate’s direction, farmers will be the first to know,” a Fonterra spokesman told Rural News.
Asked if Fonterra was rethinking its investment in Beingmate, the spokesman said the strategic rationale for partnership with a leading local infant formula brand still stands.
“But we are disappointed the company hasn’t maximised the opportunity created by the new registration rules.”
Fonterra points out that its partnership with Beingmate has enabled Anmum to expand from 60 to 184 cities; Anmum infant formula is now in at least 10,000 stores in China, on all the major e-commerce platforms, and is one of the top performers in Beingmate’s product range.
“It’s important to understand that the 80,000 retail stores was a reference to Beingmate’s footprint in China; however, as Anmum is a premium brand Beingmate has made the decision to focus on 10,000 stores to reach the right target consumers.”
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Beef + Lamb New Zealand says it is seeing strong farmer interest in its newly launched nProve Beef genetics tool, with early feedback and usage insights confirming its value in helping farmers make better breeding decisions and drive genetic improvement in New Zealand's beef herd.
The Innovation Awards at June's National Fieldays showcased several new ideas, alongside previous entries that had reached commercial reality.
To assist the flower industry in reducing waste and drive up demand, Wonky Box has partnered with Burwood to create Wonky Flowers.
Three new directors are joining Horticulture New Zealand’s board from this month.
Beef + Lamb New Zealand (B+LNZ) says proposed changes to the Emissions Trading Scheme (ETS) will leave the door wide open for continued conversions of productive sheep and beef farms into carbon forestry.
Federated Farmers says a report to Parliament on the subject of a ban on carbon forestry does not go far enough to prevent continued farm to forestry conversions.
