Tuesday, 24 November 2020 14:00

Quiet offload

Written by Milking It

font size decrease font size increase font size
Print
Email

OPINION: Fonterra has quietly offloaded its 50% stake in Agrifeeds, a major importer of palm kernel expeller into New Zealand.

In an email to farmers, the co-operative revealed that it pocketed $27 million from the deal with JV partner Wilmar International.

Fonterra’s involvement in PKE importation has been on the receiving end of protests by environment lobbyists like Greenpeace, who claim PKE is a by-product of the palm oil industry, which is the leading cause of rainforest destruction in Indonesia.

Fonterra’s PR machine has been quiet on the sale and so has Greenpeace, who would be hoping that this could be the start of the end of PKE trading in NZ.

Fonterra hasn’t completely folded though and will still sell PKE through its Farm Source stores.

More like this

Fonterra Announces Interim Leadership Changes Ahead of Richard Allen CEO Transition

Fonterra Announces Interim Leadership Changes Ahead of Richard Allen CEO Transition

Fonterra has announced interim changes to the leadership of its Global Ingredients business.

Expert Says Fonterra Backing Current Strategy With New CEO Appointment

Expert Says Fonterra Backing Current Strategy With New CEO Appointment

The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.

Former Fonterra Director Urges Bipartisan Support for India Free Trade Agreement

A former Fonterra director with farming interests in India says he's surprised with the political posturing over the Indian free trade agreement.

Fonterra launches farmer-led youth dairy programme in Waikato and Bay of Plenty

A new farmer-led programme aimed at bringing young people into dairy farming is under way in Waikato and Bay of Plenty.

$10m Boost for Govt Coffers From Pāmu

State farmer Pāmu (Landcorp) has announced it will pay a $10 million special dividend to the Crown off the back of a strong outlook for the business and a capital repayment of $9.5 million following Fonterra's consumer business sale.

Popular Reads

Fonterra Announces Interim Leadership Changes Ahead of Richard Allen CEO Transition

Fonterra has announced interim changes to the leadership of its Global Ingredients business.

$3B Urea Plant To Be Built In Southland

New Zealand’s reliance on imported urea could soon be a thing of the past.

Local State of Emergency Declared in Waikato Ahead of Cyclone Vaianu

A Local State of Emergency has been declared for the Waikato for a period of seven days as the region…

Cyclone Vaianu Brings Heavy Rain, Flooding Across NZ

Cyclone Vaianu is continuing its track south towards the Bay of Plenty, bringing with it destructive winds, heavy rain, and…

Fifth-Generation Farmer Transforms Dairy Farm into Biodiversity Hotspot

Fifth generation farmer Stu Muir believes dairy farming and conservation can go hand in glove.

Featured

Māori Leaders Back NZ–India FTA but Warn Benefits Are Uneven

Now it's signed, make it work.

Young Farmers Step Closer to Ownership Through Pāmu Livestock Model

State farmer Pāmu says a programme it's running to help skilled operators into farm ownership is paying dividends.

Direct-to-Satellite Tech a ‘Game Changer’ for Beef Farmers

Central Otago farmer Bevan McKnight no longer worries about leaving a few Angus cattle behind while mustering on the 13,000ha station he leases.

NZ Methane Research Shows Limits of Breeding Low-Emission Dairy Cows

Livestock Improvement Corporation (LIC) and the Ag Emissions Centre have completed the latest phase of a mult-year methane research project, providing important insight into the role genetics may play in reducing gross emissions.

Historic NZ–India FTA signed, boosting forestry, meat and wool exports

A lavish signing ceremony in Delhi has cemented in place a deal that will have massive economic benefits for some of NZ's key primary exports - notably forestry, horticulture, sheepmeat and wool.

Fonterra Announces Interim Leadership Changes Ahead of Richard Allen CEO Transition

Fonterra has announced interim changes to the leadership of its Global Ingredients business.

National

Dairy Women’s Network Names 2026 Regional Leader Award Finalists

Ashleigh Gordon and Leilani Lobb have been named as the two finalists for Dairy Women's Network's (DWN) 2026 Regional Leader…

Farmers Face Change but Opportunity as Sector Evolves

New Zealand's food and fibre sector is entering a period of significant transition and Irricon's refreshed brand reflects how both…

Meat and Dairy Vital for Health and Hunger Solutions, Experts Say

The executive director of the Global Dairy Platform (GDP) Donald Moore says research being done at Massey University's Riddet Institute…

First-Farm Buyers Braden and Brigitte Barnes Secure Ownership with Award Support

Braden and Brigitte Barnes have taken the leap into farm ownership to purchase their first farm with support from the…

Fifth-Generation Farmer Transforms Dairy Farm into Biodiversity Hotspot

Fifth generation farmer Stu Muir believes dairy farming and conservation can go hand in glove.

Machinery & Products

Nissan NZ Launches MORE Ownership Programme with Extended Warranty

Nissan has announced that the Nissan MORE Ownership Program, available to New Zealand customers, is an initiative to deliver peace of…

Massey Ferguson Introduces High-Efficiency Small Square Baler

Massey Ferguson has announced the release of the SB.1436DB small square baler to New Zealand, featuring a unique layout producing…

Dairy Wearables Gain Value Through Integration with MINDA System

Wearable collars, ear tags and boluses are becoming increasingly common on Kiwi dairy farms.

SenseHub Dairy Launches Inline Milk Sensors for Real-Time Cow Data

Two inline milk sensors are now available on monthly subscription from SenseHub Dairy, adding milk yield and quality insights to…

Te Pari Launches Modular AB Race for Safer Dairy Breeding

With the artificial breeding season creating increased activity and the need to handle cattle safely and efficiently, a dedicated AB…

» Latest Print Issues Online

dairynewscover

ruralnewscover

winegrowercover

Milking It

Too Lenient

OPINION: Reckless action by Greenpeace in 2024 forced Fonterra to shut down a drying plant for four hours, costing the co-op…

Fossil Fuel Crusade

OPINION: The global crusade against fossil fuel is gaining momentum in some regions.

» eNewsletter