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Federated Farmers Meat & Fibre Chair Rick Powdrell.
New Zealand will enjoy benefits from the approval for Shanghai Maling Aquarius to acquire a 50% ownership stake in Silver Fern Farms.
Federated Farmers Meat & Fibre Chair Rick Powdrell says it’s a sensible decision for the country and aligns the company better to service the needs of global markets in a modern world.
"New Zealand farmer-shareholders will continue to own 50% of the cooperative and will enjoy the benefits of access to the growing Chinese market,” says Powdrell.
"This is exactly what the farmer-shareholders wanted, with a majority voting last month for the deal to be approved.”
Silver Fern Farms has announced a major capital investment valued at over $100 million to redevelop freezing, cold storage, and automation facilities at its Finegand Site near Balclutha.
Rural Women New Zealand (RWNZ) and Federated Farmers say they welcome the announcement last week that the Government will increase the conveyance allowance by 30%.
According to the latest Federated Farmers-Rabobank Farm Remuneration Report, released today, farm worker pay growth has levelled off after a post-Covid period of rapid growth.
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