Latest from Fonterra

Fonterra thirsts for milk

Fonterra has moved to shore up its supply base by forming a subsidiary that can take in more milk without suppliers having to buy shares in the co-operative.

Dairy outlook still sound - Rabobank

The medium to long term outlook for NZ dairy farmers remains sound, despite yesterday's payout cut, says rural lender Rabobank.

Fonterra launches 'mymilk' subsidiary

Fonterra said it had launched a separate milk sourcing subsidiary - mymilk - to grow its market share in the South Island.

Fonterra to cut costs as forecast falls

Fonterra plans to cut costs and defer some capital expenditure so that an improved dividend can at least partially offset a likely $6b decline in income for the sector.

Fonterra cut to hit farmers

The industry group DairyNZ estimates that one quarter of dairy farmers will have difficulty paying their bills if Fonterra's reduced farmgate milk price comes to pass.

Fonterra slashes milk payout to $4.70

Fonterra has this morning cut its forecast farmgate milk price payout to its farmers, with its chairman admitted it'll put pressure on farm budgets.

Botulism report: Fonterra lacked plan

Neither Fonterra nor the Ministry for Primary Industries emerged unscathed in the final report on the botulism scare that rocked the New Zealand dairy industry last year.

Fran O'Sullivan: Fonterra still in a state of denial

There is one salient comment in the report by Queens Counsel Miriam Dean into the WPC80 incident that ought to give Fonterra's directors and shareholders cause for concern: "A company that is....

Westland cuts payout forecast

Beef prices continue to set records

Global dairy markets have plummeted but New Zealand beef prices have continued to hit record highs, while sheepmeat prices have stayed firm, Rabobank says.

Carpark hole plumbs new depths

Andrew Rolfe, Fletcher Construction project manager, said a 16m hole on the corner of Halsey St and Gaunt St in the Wynyard Quarter had now been completed.

Dairy in the doldrums

Dairy farmers should be able to weather a low payout for the current season, thanks to last year's record milk price, but two poor seasons in a row would put the sector under financial stress,....

NZ tractor sales set to match record

New Zealand tractor sales are expected to match record highs this year, thanks to high milk prices and good growing conditions.

Fonterra payout cut looms as prices fall

Fonterra now looks certain to drop its farmgate payout to its farmers, after prices fell in the latest overnight dairy auction.

Exploiting Russia sanctions 'a bad look'

John Key says major companies have been asked not to exploit the gap left by other countries' trade sanctions on Russia because to do so would be a "terrible look" for NZ.

Rinehart eyes milk formula market

Aussie billionaire Gina Rinehart is planning a A$500m investment to supply infant formula to a Chinese market forecast to almost double over three years.