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Fonterra has lost the supply of 4 million kgMS to rival Westland Milk.
Southern Pastures, which owns nine Canterbury farms, is switching supply from the 2018-19 season; it has also spent $6 million buying Westland shares at $1.50/share.
As a result, Southern Pastures becomes the largest shareholder in Westland.
Ex-All Black captain Graham Mourie is one of the principals of Southern Pastures.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.
The world’s largest milk company Lactalis has won the bid for Fonterra’s global consumer and associated businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
It took a stint at university to remind Otago dairy farmer Megan Morrison that being stuck in a classroom was not for her.
