Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Small Dairy Companies Outshine the Giant.


24 July 2002 PR098/02

Small Dairy Companies Outshine the Giant.

Tatua Dairy Company must be congratulated for its excellent performance and setting the standards for the rest of the diary industry, says Dairy Farmers of New Zealand Chairman Kevin Wooding.

Tatua has announced a payout of $6.80 per kilo of milk solids, Westland Dairy Co-operative $5.43 per kilo of milk solids. Fonterra will pay $3.70 per kilo of milk solids.

"The decision to stay out of Fonterra will deliver significant advantages to Tatua shareholders, said Mr Wooding. "Dairy farmers have consistently been told of the need for expansion, but these payouts show that big is not necessarily beautiful.

"Tatua and Westland have stuck to their knitting and outperformed the rest of the industry by a country mile.

"The industry needs to see some of the advantages of being large flow back to farmers. No doubt Fonterra directors and management will have all manner of excuses, but at the end of the day they are not at the mercy of quota markets."

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news