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


Feds Pleased With Safeguards In Dairy Law Changes

Federated Farmers counts it as a significant win that safeguards will likely be written into the Fonterra constitution for dairy farms that change hands under a succession plan or are in a remote area.

The Dairy Industry Restructuring Amendment Bill has passed its third reading on July 24.

"While Federated Farmers agreed the original open entry requirements on Fonterra were no longer necessary (and will now go by June 2023), our submission and our sustained advocacy over many months insisted key safeguards remain," Feds Dairy Chairperson Wayne Langford says.

Some late changes were added to the DIRA Bill through a supplementary order paper, and the end result is that Fonterra has undertaken to give its suppliers surety:

- on farm price,

- when the farm changes hands under a succession plan,

- that for those farms in remote areas, at the end of a valley or with geographical hurdles (e.g. Golden Bay, Kaikoura), milk would still be picked up and no transport differential would apply.

"Feds worked really hard to get Fonterra to understand and agree on these issues of fairness. We knew that farmers would need this and it’s our job to do this work so our farmer members can get on with farming," Wayne says.

"These provisions are to be written into Fonterra’s constitution (subject to a shareholder vote), something which the Fonterra Shareholders’ Council also pushed for. The co-operative was initially very reluctant about that, so we’re really pleased our efforts have paid off and that this will now happen.

"Generally, we’re pleased with other outcomes and we’d particularly like to thank MPI and the Primary Production Committee for recognising Feds’ role as the voice for farmers," Wayne says.

Goodman Fielder will receive up to 350,000 million litres of raw milk from Fonterra suppliers (up from 250,000 million litres) to protect domestic competition, but the supply will be at a better price.

While Feds might have wished the trigger amount to be smaller, Fonterra does not have to supply other independent processors with raw milk if in any three consecutive seasons they received 30 million litres or more from their own suppliers.

"The DIRA will be reviewed again in 4-6 years, which is an aspect we also sought," Wayne says.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>


Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>


NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>


Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

REINZ: Million Dollar Plus Property Sales Increase 11.7% Nationally

The number of properties sold around the country for one million dollars or more during the first half (H1) of 2020 increased by 11.7% compared to H1 2019, with 5,426 million-dollar plus properties sold (up from 4,858 in H1 2019) according to the Real ... More>>

Waste: Government To Regulate Plastic Packaging, Tyres, E-Waste

The Government is stepping up action to deal with environmentally harmful products – including plastic packaging, tyres and e-waste – before they become waste. As part of the wider plan to reduce the amount of rubbish ending up in landfills, ... More>>


Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>


QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>


Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>


FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>