Friday, 04 April 2014 16:39

Fonterra $300k fine ‘proportionate’

Written by 

FEDERATED FARMERS believes Fonterra's $300,000 fine on charges relating to the 2012 whey protein recall is "proportionate".

 

Fonterra accepted four Ministry for Primary Industries (MPI) charges relating to the recall.

"To a shareholder, $300,000 is much better than what the cooperative potentially faced," says Willy Leferink, Federated Farmers dairy chairperson.

"Given the size of negative coverage relating to the non-botulism scare and the dent it put into the coop's reputation, the size of the fine is proportionate.

"Especially given Fonterra did not contest the charges brought by MPI. Even the Crown Prosecutor acknowledges Fonterra has swiftly moved to put its house in order.

"As supplier shareholders and unit holders will ultimately meet the cost of the fine, we are certain Fonterra's management has got the message loud and clear," Leferink says.

More like this

Featured

ANZCO Foods' net profit plunges

Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.

Editorial: Forest for the trees?

OPINION: Most people will be aware of the Government's plans to boost coal, oil and gas production to meet energy requirements.

Protest planned outside dairy awards venue

As the dairy industry prepares to celebrate its top achievers at an awards night this Saturday, attendees are being warned to be aware of protests planned outside the venue – Baypark Arena, Mount Mauganaui.

National

Machinery & Products

Iconic TPW Woolpress turns 50!

The company behind the iconic TPW Woolpress, which fundamentally changed the way wool is baled in Australia and New Zealand,…

» Latest Print Issues Online

The Hound

Keep it up

OPINION: The good fight against "banking wokery" continues with a draft bill to scrap the red tape forcing banks and…

We're OK!

OPINION: Despite the volatility created by the shoot-from-the-hip trade tariff 'stratefy' being deployed by the new state tenants in the…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter