Fonterra has raised about $270 million from its farmer shareholders.

Fonterra says around one third of its farmer shareholders have spent $270.7 million buying up new shares in the co-operative.

NZ supermarkets are rationing baby formula because of fears of a shortage caused by Chinese buyers selling it in bulk to parents back in their homeland.

The Government is keeping close watch on the "big dry" in many regions and will consider drought assistance if conditions worsen, Agriculture Minister David Carter says.

Fonterra's whole milkpowder prices have fallen at auction for the first time in six months.

That's it then - another year of spouting, pronouncing and sticking the occasional spanner in the works.

Fonterra says it has completed the acquisition of a Saudi Arabian milk company.

Fonterra is in talks to buy out its partner in the Saudi Arabian milk and cheese market, Saudi New Zealand Milk Products.

Hanover Finance shareholders have been urged to put aside the company's poor performance and any animoisty towards its directors when they vote on the Alllied Farmers deal.

Half of Fonterra's farmers are expected to buy the additional shares being offered by from today, says Federated Farmers.

Milk powder prices on Fonterra's online trading auction have continued their upwards march.

Amnesty International is calling on Fonterra and the Government to condemn the executions of two people involved in the San Lu tainted milk powder scandal.