Chinese strategy
OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.
The Fonterra Shareholders Council has given its approval to TAF (trading among farmers), paving the way for Fonterra board to launch the share trading scheme.
For Fonterra to move forward with TAF, the board had to be satisfied that five preconditions were met. The fifth TAF precondition was the support of at least 50% of the Shareholders Council.
Council chair, Ian Brown says there was 97% support for the resolution and this reflected the confidence the Council had in the new capital structure.
"The council's support for the preconditions, which are underpinned by 100% farmer ownership and control, signal that they have reached the standards set by the council on behalf of our farmer shareholders."
Brown says the council has undertaken a robust and fully independent two-year review process to ensure farmers' interests were paramount in the construction and design of TAF.
"From the outset the council viewed 100% farmer shareholder ownership and control as a non-negotiable and that any change to the capital structure had to be an enduring one.
"To ensure this was the case the council engaged the services of a number of external advisors who worked to review all aspects of TAF from a farmers' perspective. We are confident that the protections contained within TAF will preserve 100% farmer shareholder ownership and control and that the TAF model before us will provide the cooperative with stability for years to come."
A governance group has been formed, following extensive sector consultation, to implement the recommendations from the Industry Working Group's (IWG) final report and is said to be forming a 'road map' for improving New Zealand's animal genetic gain system.
Free workshops focused on managing risk in sharefarming got underway last week.
Annual farmer gathering, the South Island Dairy Event (SIDE), is set to make history as it heads to Timaru for the first time.
Installing 400 solar panels at their Taranaki piggery and cropping operation will have significant environmental, financial and animal welfare benefits for the Stanley family.
WoolWorks, New Zealand’s largest wool-scouring company, has partnered with the Lions Club of Riverton to help raise money for much-needed repairs to the Southland town’s swimming pool.
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