Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra has revised its Australia farmgate milk price; from A$5.60/kgMS to A$5.00/kgMS for the current season.
Fonterra says the price change better reflects the reality of the supply and demand imbalance that is affecting global dairy commodity prices, compounded by the recent strength of the Australian dollar.
Fonterra Australia is also offering its suppliers an interest-bearing support loan of up to A60c /kgMS that is linked to a supply commitment and is repayable from FY18.
Fonterra currently expects that the revised milk price will reduce the cost of goods sold for Fonterra Australia by around A$48 million but this will be subject to a number of factors including final milk volumes for the year. This will contribute to the reduction of operating losses in our Australian Ingredients business this financial year.
Fonterra's current earnings guidance range of NZ$0.45 – 0.55 per share reflects a range of possible impacts through to the end of the financial year including the completion of announced business sales in Australia. As a result, Fonterra is maintaining its current guidance range and will continue to take a responsible approach.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.