Record $10/kgMS milk price forecast means extra cash for Fonterra farmers
A record $10/kgMS opening forecast milk price for the new season means more money into Fonterra farmers pockets early, says Federated Farmers dairy chair Richard McIntyre.
Fonterra’s chief financial officer Marc Rivers will leave the co-op at the end of this year.
Rivers who joined Fonterra in 2018 has played a critical role in resetting the financial health of the co-operative, says chief executive Miles Hurrell.
“It’s been clear from day one that Marc felt a great sense of responsibility to our farmer owners, unit holders and also New Zealand’s economy,” says Hurrell.
“Our balance sheet is now in a strong position. We have a long-term strategy with clear targets out to 2030 and our farmer owners have given the green light on our Flexible Shareholding capital structure. Marc has been instrumental in all of these areas.
“We are moving from reset to a new phase of creating value, and Marc has decided that this is a natural point in time for a move.”
Rivers will remain the role until the co-op’s annual meeting, normally held in November.
Hurrell says Rivers will help support him in identifying a successor and ensuring a smooth transition and handover.
Rivers says his time with Fonterra has been a privilege.
“I’ve learned a lot and also had the opportunity to be a meaningful part of the lives of many people across our co-op.
“We have worked together to rebuild the health and wellbeing of Fonterra and I look forward to seeing the goodness the co-op creates over the coming years.”
A record $10/kgMS opening forecast milk price for the new season means more money into Fonterra farmers pockets early, says Federated Farmers dairy chair Richard McIntyre.
Associate Agriculture Minister Andrew Hoggard says the consenting experience facing some high-country Canterbury sheep and beef farms is "bloody tragic" and vindicates the Government's move to abolish the Resource Management Act (RMA).
Farmers appear to be backing the Government's recent Resource Management Act (RMA) reforms announcement.
For the first time, all the big names in agricultural drone technology are being brought together under one marquee at the National Fieldays.
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
The Fieldays Innovation Awards competition has attracted a diverse and impressive array of innovations from across the primary industries, highlighting the growing importance of technology shaping the future of farming.
OPINION: Imagine if the Hound had called the Minister of Finance the 'c-word' and accused her of "girl math".
OPINION: It's good news that Finance Minister Nicola Willis has slashed $1.1 billion from new spending, citing "a seismic global…