Fonterra shareholders watch performance after sale
Fonterra shareholders say they will be keeping an eye on their co-operative's performance after the sale of its consumer businesses.
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.
So, Finance Minister Nicola Willis' little game, implying that the co-op might be cranking the domestic price up, and that she was going to meet with CEO Miles Hurrell to discuss it, was pure political theatre - and cynical politics, at that.
This led to the ridiculous spectacle of TVNZ's lightweight 'political editor' trying to doorstop Hurrell on the 6 o'clock ews about why butter costs so much.
Everyone uses dairying as a whipping boy.
It's deeply disappointing to see Willis doing the same thing.
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Fonterra shareholders say they will be keeping an eye on their co-operative's performance after the sale of its consumer businesses.
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