Lactalis in front to acquire Fonterra’s Australian dairy assets after ACCC clearance
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Fonterra chief executive Theo Spierings says the co-op must "stay the course" despite market uncertainty.
Speaking at the co-op's annual meeting in Waitoa today, Spierings says the recent political developments in Europe, including the shooting down of a Russian plane overnight by Turkey, is further compounding the markets.
But he says Fonterra needs to stay the course and stay focussed on strategy.
"We look at things we are doing well and do them faster; things we are not doing well, we need to improve on," he says.
"Because these are the things we can control; we can't control the other things happening around the world."
Spierings also wants Fonterra to focus on opportunities to grow the business.
He alluded to a Chinese saying that when winds of change are blowing, some build walls while others build windows.
"I am in the camp that builds windows."
Spierings says Fonterra cannot control what's happening around the world.
"We can complain and moan but we will be wasting our energy," he says.
"We have to look at things which we can control; stay on course, stay on the strategy and keep costs under control."
He says Fonterra must continue to invest for the future.
"In the last few difficult years we have invested strongly." he says.
Rural health advocates say the Government's decision to establish a new medical school at the University of Waikato augurs well for the rural sector.
People affected by the recent two severe flood events in the Tasman district are weary and exhausted trying to deal with the devastation on their farms and orchards, according to the head of the Rural Support Trust (RST) in the region.
New Zealand milk production is off to a strong start, with the first month of the 2025/26 dairy season recording a whopping 17.8% jump in milk production, compared to the previous season.
With adverse weather set to rain down on the Top of the South, the Bay of Plenty and parts of Northland, Agriculture Minister Todd McClay says farmers, foresters, and growers need to prepare for possible challenges.
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Meat Industry Association (MIA) independent chair Nathan Guy says getting meat processors involved has been a shot in the arm for the sector's key marketing initiative into China, Taste Pure Nature.
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