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.
A dirty pipe at Fonterra's Hautapu factory in Waikato threatens to knock the co-op's infant formula business on the head.
The co-op has confirmed that "a very little used piece of pipework" is behind the potential contamination of Fonterra's whey protein concentrate (WPC80). It is used by Fonterra's customers in a range of products including infant formula, growing up milk powder and sports drinks.
At a media conference at Fonterra's Auckland headoffice this morning, managing director NZ Milk Products, Gary Romano said after the contamination was detected, it went back immediately and isolated "a very little used piece of pipework that was not as sanitary as it should be".
"Further product coming from that plant has been tested," he says.
Fonterra is still refusing to disclose which of its eight customers were potentially affected by the contamination, saying it was up to them and their regulatory authorities to make those decisions.
But Fonterra chief executive The Spierings, who is overseas, is flying to China today to discuss the issue with authorities there. China is by far the largest market for infant formula. Many local and international infant formula manufacturers use Fonterra ingredients to make the product.
Despite repeated questioning, Romano refused to comment which global brands were impacted. He says Fonterra has no control over their customers' supply chains.
Fonterra sold some of the contaminated WPC80 to customers in New Zealand. But Romano pointed out Fonterra Brands, the co-op's consumer business was not impacted. However, he refused to say which local brands may be involved.
Romano says food safety is Fonterra's number one priority.
"We take matters of public health extremely seriously and we are doing everything we can to assist our customers in ensuring any product containing this ingredient is removed from the marketplace and that the public is made aware."
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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