EU dairy co-ops to merge
Two European dairy co-operatives are set to merge and create a €14 billion business.
Reuters reports that giant food company Wilmar Group has announced it had handed over 11.8 trillion rupiah (US$725 million) to Indonesia's Attorney General's Office as a "security deposit" in relation to a case in court about alleged misconduct in obtaining palm oil export permits.
In New Zealand, Wilmar Group owns 100% of Agrifeeds. In 2020, Rural News reported that Fonterra – keen to exit non-core businesses like the PKE import business – offloaded its 50% stake in Agrifeeds to joint venture partner Wilmar International for NZ$27.5 million.
Indonesian prosecutors are appealing a court ruling that had cleared Wilmar and two other palm oil companies of accusation of paying bribes to obtain the permits in 2022. Prosecutors had demanded 11.8 trillion rupiah in fines from Wilmar.
Wilmar has been reported saying the money would be returned if Indonesia’s Supreme Court cleared the company of wrongdoing in the ongoing case but would be forfeited in part or in full if the court found against the company.
Reuters also reports that the Indonesian Attorney General’s Office has arrested an employee of Wilmar “on graft charges related to corruption in obtaining export permits”. According to the news agency, the Office has also arrested four judges and two lawyers, alleging the judges took 60 billion rupiah to “arrange a favourable verdict against three companies, including Wilmar”.
Wilmar also said its actions in the palm oil export permit case were done “in compliance with prevailing regulations” and “were free from any corrupt intent”.
Immediately following the news, Wilmar shares dropped 4% to a five-year low during trading but recovered somewhat during the trading period.
Holstein Friesian excellence was front and centre at the 2025 Holstein Friesian NZ (HFNZ) Awards, held recently in Invercargill.
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.
This past week has seen another round of negotiations between India and New Zealand to produce a free trade agreement (FTA) between the two countries.
Cautiously optimistic is how DairyNZ's regional manager for the lower North Island, Mark Laurence describes the mood of farmers in his patch.
The Infrastructure Commission has endorsed a plan by Chorus to expand fibre broadband to 95% of New Zealand much to the delight of rural women.
Questions are being raised about just how good the state of the dairy industry is - especially given that the average farmgate payout for the coming season is set to exceed $10/kgMS.
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