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Silver Ferns Farm chairman Rob Hewett says the deal with Shanghai Maling wasn't done after "a behind the bike shed discussion".
He told shareholders that there was a global discussion before the decision was made to go with Shanghai Maling.
"Everybody who wanted to be part had an opportunity to come to the negotiation table," he told the special general meeting in Dunedin.
"In Shanghai Maling we have found a like-mined partner; the board unanimously recommends the partnership to shareholders."
Hewett says the status quo is not sustainable.
He says the Chinese company has the capital to accelerate SFF's pasture-to-place strategy and boost farmgate returns.
He also stressed that SFF still exists as a co-op.
"We intend to behave like a co-op; to say the co-op is not alive is not true."
One of the most galling aspects of the tariffs whacked on our farm exports to the US is the fact that, now more than ever, US farmers are being propped up by government welfare – a direct result of Trump’s hardline on its trading partners.
Premium wool carpet maker Bremworth is being sold to the world's largest flooring company.
China looks set to play a key role in helping the New Zealand wool sector shift away from trading as a commodity supplier.
A 50% tariff slapped by the US on goods from India last month has opened an opportunity for New Zealand wool carpets exports to North America.
If you find a new consumer in a developed wine market, you are taking them from someone else, says Blank Canvas co-founder Sophie Parker-Thomson MW.
Legal controls on the movement of fruits and vegetables are now in place in Auckland’s Mt Roskill suburb, says Biosecurity New Zealand Commissioner North Mike Inglis.
Arable growers worried that some weeds in their crops may have developed herbicide resistance can now get the suspected plants tested for free.
Fruit growers and exporters are worried following the discovery of a male Queensland fruit fly in Auckland this week.
Dairy prices have jumped in the overnight Global Dairy Trade (GDT) auction, breaking a five-month negative streak.
Alliance Group chief executive Willie Wiese is leaving the company after three years in the role.
A booklet produced in 2025 by the Rotoiti 15 trust, Department of Conservation and Scion – now part of the Bioeconomy Science Institute – aims to help people identify insect pests and diseases.
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