increase font size
Fonterra Co-operative Council chairman John Stevenson.
Fonterra farmers are picking up the tab of about 30 fellow shareholders forced to dry off due to damage caused by Cyclone Gabrielle.
Some Hawke's Bay farms remain inaccessible by mik tankers, brining their 2022-23 season to an end months earlier than normal.
The co-operative has agreed to pay these farmers for loss of income under its 'force majeure' terms, based on the average of the past three year's milk production.
Fonterra Co-operative Council chairman John Stevenson told Rural News that he is really proud of how the co-op has supported affected members.
"Fonterra has covered farmers' milk that was unable to be picked up, including to continue to support those who have had to dry off due to no tanker access," he says. "This is a unique benefit of being part of the co-operative."
Stevenson, who was in Napier last week, met some of the affected farmers.
"I was blown away by the resilience shown by farmers I met who had been cut off by the storm. Some have significant infrastructure damage to farms.
"Many co-op members, including councillors, have also provided support to their fellow co-op members, both during the weather events themselves and afterwards, including by sending generators, feed, and making donations of rewards dollars via Fonterra Farm Source.
"I have not heard from one farmer shareholder who does not support the co-op covering for lost milk."
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
Listed carpet manufacturer, Bremworth is undertaking a $6 million expansion at its Napier plant more than two years after the site was heavily damaged by Cyclone Gabrielle.
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
