Tuesday, 13 April 2021 15:00

No fooling around

Written by  Milking It

OPINION: The non-performing China Farms have always been a source of headaches for Fonterra.

For years, the loss-making billion-dollar investment has prompted farmer shareholders to question the logic behind owning the farms and cows.

And that's why the co-op was keen to officially part ways with the farms without any fanfare.

A media release announcing completion of the sale was issued by Fonterra at 4.20pm Thursday, on the eve of Easter weekend.

Milking It notes that the date of the release was April 1st but Fonterra could fool no one. It was a disastrous investment and farmer shareholders would be glad to see the back of the China Farms.

More like this

A great outcome - Hurrell

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.

Featured

Hort industry dishes out awards

Research and healthcare initiatives, leadership and dedication to the sector have been recognised in the 2025 Horticulture Industry Awards.

Manuka honey trader posts sour results

Manuka honey trader Comvita slumped to a $104 million net loss last financial year, reflecting prolonged market disruption, oversupply and pricing volatility.

Poultry industry, Govt sign landmark biosecurity deal

The Government has struck a deal with New Zealand's poultry industry, agreeing how they will jointly prepare for and respond to exotic poultry diseases, including any possible outbreak of high pathogenicity avian influenza (HPAI).

National

Machinery & Products

» Latest Print Issues Online

Milking It

Dreams aren't plans

OPINION: Milking It reckons if you're National, looking at recent polls, the dream scenario is that the elusive economic recovery…

Fatberg

OPINION: Sydney has a $12 million milk disposal problem.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter