Plant-based bubble bursts
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.
OPINION: If you are an investor in listed Canterbury milk processor, Synlait then you may have a reason to be worried.
Synlait’s share price continues to fall and last week was trading around 81c. Compare this to two years ago when it was trading at $3.45/share.
One year ago, it was hovering around $3.56/share.
A run of poor financial results and a dispute with cornerstone shareholder and key customer a2 Milk Company have seen its market capitalisation drop 75% to around $177m.
Farmers who supply milk to Synlait will be watching nervously.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.