US remains important market - Fonterra
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
Fonterra chairman John Wilson says as a farmer he is angry and disappointed with today's arbitration decision over the false botulism scare in 2013.
Speaking at a media conference with chief executive Theo Spierings, Wilson said the decision did not fully recognise the terms of supply agreement between Fonterra and Danone.
However, Wilson says he accepts the decision to award Danone $183 million in damages.
“We will now turn our attention to delivering the best possible returns for our farmers despite this outcome,” he says.
He added that Fonterra’s management is also committed to this.
Wilson and the management team briefed the Shareholders Council on the arbitration decision before the media conference.
He says there is also frustration among shareholders.
Danone sought damages for recalling products; the precautionary recall was a result of a false test from a third party.
Federated Farmers supports a review of the current genetic technology legislation but insists that a farmer’s right to either choose or reject it must be protected.
New Zealand’s top business leaders are urging the US Administration to review “unjustified and discriminatory tariffs” imposed on Kiwi exporters.
New tariffs imposed by President Donald Trump signal an uncertain future, but New Zealand farmers know how to adapt to changing conditions, says Auriga Martin, chief executive of Farm Focus.
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
Carterton's Awakare Farm has long stood as a place where family, tradition and innovation intersect.
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
OPINION: At last, a serious effort to better connect farmers and scientists.
OPINION: If you believe Maori Party president John Tamihere’s claim that “nothing dodgy” occurred at Manurewa Marae during the last…