Dairy farmer profits to hit record levels in 2025
The profitability of dairy farmers is likely to increase in the coming year, accordign to the latest report by the Ministry for Primary Industries (MPI) on the outlook for the primary sector.
The first change in Synlait’s management team, since China’s Bright Dairy securing 65% ownership, has been announced.
Chief executive Grant Watson has resigned. Synlait subsidiary, Dairyworks chief executive Tim Carter has been appointed acting CEO from today.
Watson, who took up the role in January 2022, has overseen the company through an unprecedented era in its history – suffering heavy losses and a recapitalisation programme that saw Bright Dairy increase its stake.
Synlait Chair George Adams says recent months have seen a long list of urgent challenges for Synlait, and Watson’s ably led the team through them.
“His achievements are extensive and notably include our balance sheet's recent, successful reset.”
Watson says Synlait is an amazing and agile company, which he has been honoured to lead.
“Working with our passionate employees and farmers who care deeply about Synlait’s success has been a privilege. Our team’s determination and dedication to deliver has also been a real highlight. I wish Synlait all the best for a successful future.”
Adams notes that Watson’s tenure has been incredibly busy – notably resetting Synlait’s strategy to reduce customer and market concentration risk, commercialising plant-based production at Pokeno and the foodservice business in Canterbury, extending reach into South East Asia, maintaining China market access, and building an outstanding executive team.
“Grant will take a well-deserved break before deciding his next career move. He has set a strong platform for Synlait going forward, the Board is extremely grateful for this and wishes him all the best.”
Synlait says Carter’s leadership, Dairyworks has performed impressively over the past six years, recently delivering a record EBITDA result due to strong sales growth, operational stability, and low staff turnover. Aaron Kenny, Dairyworks' chief financial officer, will act as Dairyworks CEO in the interim.
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.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
There are opportunities outside the farmgate for young farmers to further develop their skills, says 2025 Primary Industries Emerging Leader Award winner Bridie Virbickas.
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