Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
New Zealand’s favourite ice cream brand could soon be sold.
Fonterra says its asset review process is well underway, but there’s nothing to announce right now.
A Fonterra spokesman says people will speculate on “what all this could mean”.
“When we are ready, we’ll be open with our people, farmers and the market about any changes,” the spokesman told Rural News.
“We are taking a close look at our current portfolio and reviewing all of the co-op’s investments, major assets and partnerships against our strategy.
“This includes assessing their return on capital and whether there is opportunity to scale them up and grow more value over the next two-three years.”
Media reports have named the New Zealand ice cream business Tip Top and the South American subsidiary Soprole as the two value-add businesses under review, along with its disastrous investment in Chinese baby food company Beingmate.
Fonterra’s strategic review emanates from its 2017-18 net loss of $196 million, the first in its history; the co-op aims to reduce its debt levels by $800m to protect its balance sheet.
Included in the review is Fonterra’s 18.8% holding in China’s Beingmate, whose poor performance and internal power struggle forced the co-op to write down the value of its investment by $405m from the original $750m paid.
Fonterra chairman John Monaghan told the co-op’s annual meeting recently that the reduction cannot be achieved by improved performance alone.
“We need to divest assets to meet that commitment,” he said.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…
OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…