Two milk processing plants changing hands
Two large milk processing plants in New Zealand are changing hands.
OPINION: Nearly four years after buying a 75% stake in Southland processor Mataura Valley Milk (MVM), A2 Milk is still struggling to take the plant to profitability.
In its half-year results last month, A2 says the half year was characterised by higher GDT market pricing, plus higher milk volumes processed through the MVM site. As a result, revenue of $57.4 million was $13.9 million higher than prior year, with EBITDA losses improving to $11.9 million (1H24: $15.3 million).
The company continues to work on a range of initiatives to accelerate MVM's path to profitability, which remains a key priority.
A2 Milk bought the 75% interest in MVM from China Animal Husbandry Group (CAHG), which retains a 25% stake in MVM.
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Farmers supplying milk to Taupo-based processor Miraka are getting a 2024-25 season base milk price of $10.16/kgMS.
Pig farmers are cautiously welcoming new animal welfare standards announced by the Government last week.
The Government has issued a stern warning to regional councils and unitary authorities to toe the line in respect upcoming changes to the Resource Management Act (RMA).
A survey of 2000 farmers shows 94% of respondents believe that remaining in the Paris Agreement for climate change is not in the country's best interest.
The future of the Alliance Group is “pretty dark” if the proposed Dawn Meats deal does not go through, says board chair Mark Wynne.
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