Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Fonterra – Profit And Losses

28 November 2007

Fonterra – Profit And Losses


New Zealand First has again warned that control of Fonterra will go overseas first, followed by its ownership, if the company is listed and cites the example of Ireland’s Kerry Co-operative.

“Kerry Co-operative went to the stock market in 1986, and became a very successful international food company, acquiring a number of ingredient companies and manufacturing and supplying food, food ingredients and flavour products. The intention was for the farmers to retain 80% of the listed entity – this has now plummeted to 28.1%,” said the party’s primary production spokesperson, Doug Woolerton.

“Opening the doors to outside investors will lead to the expectations of shareholders taking priority over milk prices paid to farmers. A profit-driven company will look to market products that will maximise profits at all costs, taking only what it needs from farmers. It must represent all shareholders, and cannot favour the milk suppliers.

“While farmers may realise a substantial profit initially, ultimately the listing of Fonterra will see them lose control, lose their supplier advantages and lose ownership. Farmers should cherish their investment and not support the listing,” said Mr Woolerton.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Why The Greens Shouldn’t Join The Government

We know she’s a miracle worker, but can Jacinda Ardern really find a cure for capitalism? Tough job. Especially when Ardern is being expected to fix the effects of capitalism – child poverty, unaffordable housing, social inequality – without radically changing the economic structures that keep on generating those outcomes. Unfortunately, Ardern and her Finance Minister Grant Robertson are not by temperament (or by ideology) radical, risk taking politicians... More>>


 

PSA: Labour-Led Government Has Mandate For Transformation, Equality And Transparency

The Public Service Association welcomes the progressive electoral landslide New Zealand voters delivered on Saturday, and the union says its members look forward to implementing policies that reduce poverty and inequality, support affordable housing ... More>>

ALSO:

Poll: Labour On 46%, National 31%, While Greens And ACT Both On 8%

Tonight's political poll puts Labour on 46 percent and National on 31 percent with just one day remaining until election day. More>>

ALSO:

NZ First: Winston Peters Returns To Tauranga In Final Campaign Sprint

NZ First leader Winston Peters is on the final campaign sprint after a marathon tour of the whole country as he fights for his political survival, writes Jo Moir. More>>

ALSO:

Election: Labour Releases Full Manifesto

The Labour Party Manifesto sets the ongoing COVID recovery as the top priority for Government. More>>

ALSO:


Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>

Gordon Campbell: On Four-Year Terms Of Parliament, And On How The US Courts Are Dismantling Democracy

Last week, the issue of four-year parliamentary terms surfaced again. Infuriatingly, it is being discussed purely in terms of its convenience for political parties. They’d get so much more time to enact their policies, free of scrutiny or sanction by voters ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels