increase font size
OPINION: Your old mate reckons Fonterra and its dairy farmer shareholders may well be all cock-a-hoop about the prospects of a near $8 payout this year and one north of $8 next year.
However, he suggests these giddy, high payouts mask a major issue the dairy co-op appears to be glossing over - the total, absolute failure of its Chinese investments.
Starting back with Fonterra's ill-fated investment in San Lu, followed by the disastrous Beingmate and China Farms ventures, billions and billions of shareholder funds have been lost.
Yet, no one - either on the board or from the executive of the dairy co-op - has ever been held accountable for these disasters.
Some blame former chief executive Theo Spierings.
Others point the finger at former chair John Wilson.
But that it is too easy, as a dead man cannot defend himself. What about the board directors and management at Fonterra who are still around?
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
If you find a new consumer in a developed wine market, you are taking them from someone else, says Blank Canvas co-founder Sophie Parker-Thomson MW.
OPINION: Your old mate's ear has been chewed off recently by farmers voicing their displeasure with the National Party, particularly relating to how they're treating their farmer base.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
OPINION: Your old mate's ear has been chewed off recently by farmers voicing their displeasure with the National Party, particularly…
OPINION: Your old mate hears that at a recent China Business Summit, PM Christopher Luxon delivered a none-too-subtle "could try…
