Fonterra launches $1500 on-farm funding for eligible farmers
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.
The Australian newspaper reports that Fonterra subsidiary Tip Top could be offloaded as the co-op tries to strengthen its balance sheet.
Fonterra is aiming to reduce its debt by $800 million and is mulling the sale of three assets. It has confirmed that its investment in the Chinese infant formula maker Beingmate is under review. And so are two other value added investments.
But selling Tip Top may not go down well with everyone. Tip Top is the envy of the marketing world, with high brand awareness among New Zealanders.
And given that NZ last week celebrated its inaugural National Ice Cream week, speculation about Tip Top would leave a sour taste among many Kiwi ice cream lovers.
