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


Fonterra Comments On Commerce Commission Ruling

Fonterra Comments On Commerce Commission Ruling

Following a decision by the Commerce Commission, that it will investigate an application from Independent Dairy Producers Limited (IDP) in respect of the price IDP has been required to pay Fonterra for raw milk, Fonterra Co-operative Group has restated its view that it believes it has complied fully with the Raw Milk Regulations and behaved very fairly towards IDP.

“While continuing to work positively with the Commission’s investigation Fonterra believes it has met the requirements of the regulations and is disappointed that IDP does not believe it has been treated fairly,” said Alison Andrew, General Manager NZMP (NZ).

“IDP had significant amounts of money owing, rather than close them down Fonterra continued to supply milk on agreed terms that were within the market range. IDP paid the agreed price and traded out of its difficulties, it now seeks to revisit that agreement.

“We look forward to being able to meet with the Commission to present the facts as we see them.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats: Auckland’s Population Falls For The First Time
In the wake of the COVID-19 pandemic, New Zealand’s population growth slowed down with Auckland recording a population decline for the first time ever, Stats NZ said today. “New Zealand saw slowing population growth in all regions... More>>

BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>

Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>

Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>