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


Fonterra Focus on Trade Liberalisation Applauded

Fonterra Focus on Trade Liberalisation Applauded

Fonterra CEO Craig Norgate must be congratulated for the emphasis he gave trade liberalisation in his speech to the International Dairy Federation Symposium yesterday, says Dairy Farmers of New Zealand Chair Kevin Wooding.

"Mr Norgate said a substantial outcome to the Doha Round will give an enormous boost to world dairy trade and consumption," said Mr Wooding.

Trade liberalisation offers New Zealand the prospect of spectacular economic gains. For example, duties paid on $17.06 billion of New Zealand exports to WTO founding nations were $525 million lower in 2000 than they might have been because of Uruguay Round commitments.

"The removal of production and trade distorting subsidies empowers farmers to respond to consumer and market demand and to choose the production system that best suits their skills and farm type."

Mr Wooding was cautiously optimistic about Mr Norgate's statement that domestically the outlook for the rest of the season is "encouraging".

"While Mr Norgate's comments are heartening farmers will not be happy until they have the money in the bank."

"As Mr Norgate alluded to the global environment is challenging at present, particularly the downturn in the US economy. However, farmers are optimists and we expect better returns soon."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>