Fonterra Whareroa sets cheese record, wins top award
Fonterra Whareroa wrapped up a successful season with a record-breaking cheese production volume and several gongs at the co-op's annual Best Site Cup awards.
FONTERRA HAS lifted its forecast farmgate milk price for the 2013/14 season by 35 cents to a record level of $8.65 per kgMS.
The increase – along with a previously announced estimated dividend of 10 cents per share –
amounts to a forecast cash payout of $8.75.
Chairman John Wilson says the higher forecast was good news for farmers, and for New Zealand.
"The increase reflects continuing strong demand for milk powders globally," he says.
"Last December, the board approved a forecast farmgate milk price that was 70 cents per kgMS below the farmgate milk price that had been calculated in accordance with the milk price manual.
"We are maintaining this position, with today's forecast being 70 cents lower than the $9.35 milk price derived under the milk price manual.
"The board has the discretion to pay a lower farmgate milk price than that specified under the manual, if it is in the best interests of the cooperative," says Wilson.
The board has also approved an increase in the advance rate schedule of monthly payments to farmer shareholders. Payments from March through to June will be 25 cents per kgMS higher than the previously published schedule.
"We will provide an update on business performance when we announce our interim result on March 26," says Wilson.
Fonterra is required to consider its farmgate milk price every quarter as a condition of the Dairy Industry Restructuring Act (DIRA).
OPINION: Ministry for Primary Industries' situation outlook for primary industries report (SOPI) makes impressive reading.
Sheep and beef farmers Matt and Kristin Churchward say using artificial intelligence (AI) to spread fertiliser on their sprawling 630ha farm is a game changer for their business.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…
OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…