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.
Amendments to the Dairy Industry Restructuring Amendment Bill have passed its third and final reading in Parliament.
Primary Industries Minister David Carter says the Bill is a significant step to continuing a competitive and innovative dairy industry.
"The Bill legislates for greater transparency of the way Fonterra currently sets its farm gate milk price through its milk price manual, though it does not directly intervene in Fonterra's milk price setting processes."
The Bill also includes changes that allow Fonterra to move to its shareholder approved Trading Among Farmers (TAF) system.
"There has been considerable debate amongst Fonterra's shareholder base around the merits of TAF. But after the shareholders voting in favour for TAF and the legislation passing today, it is time for Fonterra to move forward growing the opportunities that exist for the company both in New Zealand and overseas."
Under the legislation, farmers will retain the ability to freely enter into Fonterra or exit to competing dairy processors and be assured of receiving a fair value for their shares, Carter says.
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.