Tuesday, 15 June 2021 14:00

Cracked China

Written by  The Hound

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?

More like this

No backing down

OPINION: Fonterra isn't backing down in its fight with Greenpeace over the labelling of its iconic Anchor Butter.

Sacrificed?

OPINION: Henry Dimbleby, author of the UK's Food Strategy, recently told the BBC: "Meat production is about 85% of our current farming use so we can afford to pull that back a bit in order to restore nature... in order to get clean energy. That is not a major sacrifice."

Entitled much?

OPINION: For the last few weeks, we've witnessed a parade of complaints about New Zealand's school lunch program: 'It's arriving late.' 'The portions are wrong.' 'I wanted caviar.'

Dressing down

OPINION: You must feel a bit sorry for poor old Christopher Luxon.

Featured

DairyNZ supports vocational education reforms

DairyNZ is supporting a proposed new learning model for apprenticeships and traineeships that would see training, education, and pastoral care delivered together to provide the best chance of success.

National

Chilled cow cuts enter China

Alliance Group has secured greater access for chilled beef exports into China following approval of its Levin and Mataura plants…

New CEO for Safer Farms

Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture, has appointed Brett Barnham as its new chief…

Machinery & Products

AGCO and SDF join hands

Tractor and machinery manufacturer AGCO has signed a supply agreement with the European-based SDF Group, best known for its SAME,…

» Latest Print Issues Online

The Hound

Sacrificed?

OPINION: Henry Dimbleby, author of the UK's Food Strategy, recently told the BBC: "Meat production is about 85% of our…

Entitled much?

OPINION: For the last few weeks, we've witnessed a parade of complaints about New Zealand's school lunch program: 'It's arriving…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter