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 says there is a genuine understanding among farmer shareholders about the global demand for sustainably produced dairy.
The co-operative’s group director Farm Source, Richard Allen, says Fonterra’s competitors in the US and Europe are bolstering their environmental credentials.
He was commenting on the launch of details of how the co-op will pay farmers for producing sustainable, high quality milk as part of the ‘co-operative difference’ framework.
From June 1, 2021, up to 10 cents of each farm’s milk payment will be determined by the farm’s sustainability credentials and milk quality.
The 10c/kgMS ‘co-operative difference’ payment is made up of two parts: 7c/kgMS for achievements under environment, co-op & prosperity, animals, and people & community focus areas.
Once these targets are achieved, another 3c/kgMS will be awarded to farmers who meet the ‘excellence’ standard under the milk quality framework.
Allen says the payment is another way Fonterra can recognise farmers.
“We want to reward the on-farm efforts that demonstrate our co-op’s care for the environment, animals, people and communities. It’s these actions which help ensure we’re the dairy company of choice for customers around the world and for New Zealand dairy farmers, for generations to come,” says Allen.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.