Fonterra trims board size
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
Fonterra has lifted its 2012-13 forecast payout to $6.12/kgMS.
It represents a milk price of $5.80/kgMS, a 30c increase from the previous forecast and a dividend of 32c/share.
The new forecast reflects a recovery in global dairy commodity prices over the past two months, says Fonterra chairman John Wilson.
"Prices have increased in seven of the last fortnightly auctions on the online trading platform GlobalDairyTrade (GDT). The GDT-Trade Weighted Index is now 26.7% above where it stood in February when the Board issued its last forecast," he says.
"World dairy trade growth is being led by powders (combined whole milk and skim), reflecting strong demand at a time when global supply is constrained."
The co-op also narrowed its earnings per share guidance to 45-50 cents per share.
Prime Minister Christopher Luxon says the relationship between New Zealand and the US will remain strong and enduring irrespective of changing administrations.
More than 200 people turned out on Thursday, November 21 to see what progress has been made on one of NZ's biggest and most comprehensive agriculture research programmes on regenerative agriculture.
The a2 Milk Company (a2MC) says securing more China label registrations and developing its own nutritional manufacturing capability are high on its agenda.
Stellar speakers, top-notch trade sites, innovation, technology and connections are all on offer at the 2025 East Coast Farming Expo being once again hosted in Wairoa in February.
As a guest of the Italian Trade Association, Rural News Group Machinery Editor Mark Daniel took the opportunity to make an early November dash to Bologna to the 46th EIMA exhibition.
Livestock can be bred for lower methane emissions while also improving productivity at a rate greater than what the industry is currently achieving, research has shown.
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