English upbeat despite dairy woes
Finance Minister Bill English remains confident about the prospects for economic growth, despite recent dairy woes.
Finance Minister Bill English remains confident about the prospects for economic growth, despite recent dairy woes.
Fonterra says it is significantly reducing the amount of product it puts up for sale on the GlobalDairyTrade auction platform over the next 12 months.
Fonterra has been put on credit watch with negative implication by ratings agency Standard and Poor's.
Finance Minister Bill English said today the Government would not be offering special financial support to dairy farmers in trouble because of low prices.
The number of mortgagee sales has jumped nationwide in the past quarter as worsening economic conditions and lower dairy payouts hit parts of provincial New Zealand.
Milk powder prices will need to improve substantially before Fonterra's revised farmgate milk price of $3.85 per kg of milk solids can become a reality, say analysts.
Fonterra lacks people who understand the impact of new and disruptive technologies, writes Keith Woodford.
If a problem arises on a Monday it might not... and doesn't need to be fixed by Tuesday.
Fonterra effectively overpaid farmers last year, sapping funds available to pay farmers at the end of the season.
Much of the available loans it will offer will likely pass straight to banks to meet debt-servicing costs, writes Fran O'Sullivan.
Dairy giant yesterday revealed its latest payout forecast, dealing a blow to individual farmers, and the wider economy.
$4.55 swing in forecast milk price paid to farmers over two seasons shows there's something wrong with NZ's dairy model, says Landcorp Farming CEO Steve Carden.
Paparimu dairy farmer Craig Maxwell says farmers are worried about the survival of their farms.
The country's biggest exporter has lowered its price from a previous forecast of $5.25 following sharp falls in whole milk powder prices.
A drop in the price of milk on supermarket shelves could be in store for New Zealanders - but not anytime soon, says supermarket chain Countdown.
Fonterra is expected to announce a sharp reduction in its farmgate milk price today.
Dairy farm prices are likely to fall this spring as the sector faces the prospect of two successive years of sub-par payouts, says the ANZ Bank
DairyNZ says New Zealand milk production is expected to fall by 2 or 3 per cent this season as farmers focus on improving the efficiency of their farming systems.
Fonterra chairman John Wilson's verbal sharp-shooting skills were put to good effect at the Trans Pacific Partnership (TPP) ministerial negotiations in Maui.
Fonterra's board will meet on Friday to review the farmgate milk price.
Fonterra says it sets itself high environmental standards despite being fined $362,000 in two separate prosecutions for Resource Management Act breaches.
Fonterra's has copped some flak for its performance, but chief executive Theo Spierings says the co-operative dairy giant would not deviate from its current course.
As milk prices fall, farmers keep waiting for the cycle to turn. But what if Fonterra's problems are longer term, asks Jamie Gray.
Westland will decide on its final 2014/15 payout in September.
Is Fonterra on the right track? Or is it time for Plan B? Plan B would result in the company being split into a basic commodity player focused on growing the milk price.
As Fonterra's NZX-listed units languish near an all-time low, analysts say the market will remain cool on the dairy giant.
Fonterra Co-operative Group has put on hold plans to develop an Equity Partnership Trust that would have given its 10,500 farmer suppliers access to investor capital to help them with the compulsory....
Pressure is building on Fonterra chief executive Theo Spierings as the dairy industry faces up to a winter of discontent, writes Liam Dann.
Jamie Gray writes: For Fonterra's farmers, investors and employees the severity of the dairy downturn will become clear early next month.
Having its main office in Auckland is a big part of the dairy giant's problem, writes Brian Gaynor.