Beingmate shares plunge below Fonterra buy price
Shares in Beingmate - the Chinese company which is 18.8pc owned by Fonterra - have halved in value over the past three weeks.
Shares in Beingmate - the Chinese company which is 18.8pc owned by Fonterra - have halved in value over the past three weeks.
The New Zealand dollar fell after prices for the nation's largest commodity export declined in the latest GlobalDairyTrade auction overnight.
The price for NZ's key dairy export, whole milk powder, is set to decline further at tonight's GlobalDairyTrade auction.
MP says cost to Kiwis unacceptable as Fonterra, supermarkets point finger at one another.
Prime Minister John Key says overseas markets are causing high prices for milk at home.
Dairy prices slipped again at this morning's GlobalDairyTrade auction, the GDT price index falling by 1.3 per cent.
Fonterra has once again successfully tapped into the so-called dim sum bond market in Hong Kong by this week raising 1 billion renminbi ($230 million) through a five-year bond.
Fonterra chairman John Wilson says he knows farmers are increasingly anxious about low farm-gate milk prices.
Media were told that hundreds of Fonterra jobs were to be axed, hours before staff heard the news.
Fonterra management had no choice but to restructure, writes Liam Dann. But it is cosmetic surgery for a patient that requires much more fundamental medical attention.
Highly-paid head office managers are expected to be in Fonterra's sights as it slashes hundreds of administrative jobs to cope with falling global milk prices.
Market analysts and dairy industry players say Fonterra needs to improve its performance and while job cuts are unfortunate, big changes are required.
Fonterra says it will lay off hundreds of its 1500 head office staff in a major review following the decline in dairy prices.
AgriHQ forecasts increased milk production and a higher forecast payout to dairy farmers will bolster the economy.
Danone Nutricia, the French-owned infant formula maker, has reported a full-year loss it attributes to the continuing effects of the Fonterra Co-operative Group's botulism scare in August 2013.
Danone Nutricia has reported a full-year loss it attributes to ongoing fallout from the Fonterra botulism scare in 2013.
The sale of Lochinver station to Chinese interests spearheaded by Shanghai Pengxin reignited concerns about farm sales to foreigners during the election campaign.
The yawning gap between supply and demand once again made its presence felt at the latest GlobalDairyTrade (GDT) auction.
The ANZ Commodity Price Index for May fell by 4.7pc, following April's 7.4 per cent decline.
International dairy prices continued to fall as the market struggles to recover from a supply/demand imbalance and subdued demand from China.
The next eight months will be lean for dairy farmers but Rabobank NZ chief Ben Russell says he is confident the downturn will be cyclical and one most farmers can cope with.
Trust set-up raises issue of whether farmer shareholder and external investor interests in Fonterra are fully aligned.
An apology after an online Anchor promotion told everyone they needed more calcium.
Next season's average farmer income will drop by $150,000 based on Fonterra's $5.25 per kg forecast, says DairyNZ.
Dairy farmers face two successive years of below-break-even payouts after Fonterra issued its forecast for 2015/16 yesterday.
Fonterra's cut its payout forecast by 10c to $4.40 a kilo of milk solids and says it expects to pay out $5.25 a kilo for next season.
Fran O'Sullivan asks, when is enough enough when it comes to Chinese investment in the New Zealand dairy sector?