Fonterra launches $1500 on-farm funding for eligible farmers
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Fonterra chairman John Wilson says the final vote on governance and representation reflects shareholder sentiment.
He says that the recommendations were a significant improvement and it was time to move the cooperative forward.
“Cooperatives, by their nature, need consensus on the important decisions. That is as it should be and today we have agreed on the final recommendations after a very constructive eight months of discussions and refinements,” says Wilson.
“It is a clear signal from our shareholder base that it is time to push on so the co-op can focus on our business priorities.”
Fonterra shareholders voted 85.96% in favour of the new proposal by the board.
The main effect of the changes is that a new election process for farmer directors will come into force. Under this process, candidates are selected by an Independent Selection Panel, then approved by the Nominations Committee of the Board and by the Shareholders Council before they are put forward to shareholders for their vote and support.
There is also provision for candidates to stand outside this process and self-nominate, provided they are supported by 35 other shareholders. A first past the post majority voting system will mean all director candidates now need at least 50% farmer support.
A Chinese business leader says Chinese investors are unfairly viewed as potential security risks in New Zealand.
In the first of two articles focusing on electrification in New Zealand, Leo Argent talks with Mike Casey, operator of the 100% electric-operated Electric Cherries orchard and founder of advocacy group Rewiring Aotearoa.
A Foundation for Arable Research initiative which took a closer look at the efficiency of a key piece of machinery for arable farmers - their combine harvesters - has been recognised at the Primary Industry NZ Awards.
Prime Minister Christopher Luxon has reiterated New Zealand’s ‘China And’ policy, adding that it wasn’t about choosing one market over another but creating more options for exporters.
A long running trade dispute between New Zealand and Canada over dairy access has been resolved.
New Zealand Police is urging rural property owners to remain vigilant and ensure their property is secure.
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