Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
ASB has expanded its rural corporate business in the South Island with the appointment of two new rural corporate managers who both bring specialised regional knowledge to their roles.
Ray Parker has joined the ASB team and will be based in Dunedin. A qualified chartered accountant, Parker is former chief executive of Tasman Agriculture, which grew to become the world's largest pastoral dairy farm owning company with farms located in the South Island and Northwest Tasmania. Parker has also been employed by Fonterra Co-op Group as GM Shareholder Services and in 2002, developed his own businesses specialising in private investment and management consultancy work with a focus on NZ's commercial and rural sectors. Parker is looking forward to working with clients on the issues facing them and developing workable solutions that best fits their needs.
Andrew McGuckin has been appointed rural corporate manager. He will be based in Christchurch, having initially joined ASB Bank in Southland in November 2000 as a rural manager before returning to Christchurch to work with agri-businesses in the North Canterbury area. With a wealth of practical farming knowledge, McGuckin has developed his family's farming property in Waipara into a vineyard and is bringing his unique North Canterbury farming and rural banking experience to his clients in Canterbury and the upper South Island.
ASB's national manager for rural corporate Richard Hegan says, "In 2008, ASB was the first bank to establish a specialist rural corporate division specifically to look after the needs of both large scale and complex farming and agri-business customers. This division is resourced with the most experienced rural bankers and support teams to ensure the delivery of high quality outcomes for our customers. We are pleased to be increasing our commitment to rural businesses by increasing specialist staff with on-the-ground rural knowledge to provide unbeatable service and support to local agri-businesses and corporate farming operations."
Legal controls on the movement of fruits and vegetables are now in place in Auckland’s Mt Roskill suburb, says Biosecurity New Zealand Commissioner North Mike Inglis.
Arable growers worried that some weeds in their crops may have developed herbicide resistance can now get the suspected plants tested for free.
Fruit growers and exporters are worried following the discovery of a male Queensland fruit fly in Auckland this week.
Dairy prices have jumped in the overnight Global Dairy Trade (GDT) auction, breaking a five-month negative streak.
Alliance Group chief executive Willie Wiese is leaving the company after three years in the role.
A booklet produced in 2025 by the Rotoiti 15 trust, Department of Conservation and Scion – now part of the Bioeconomy Science Institute – aims to help people identify insect pests and diseases.

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