Fonterra director John Monaghan has decided to pull out of a
process to appoint an independent director to the board of
Alliance Group, chairman Murray Taggart says.
Prices lifted 1.4% in this week's GlobalDairyTrade auction
with an apparent convergence in product prices being cited as
encouraging for Fonterra.
Fonterra has raised 1.25 billion Chinese renminbi (about
$NZ250 million) through a five-year ''dim sum'' bond issue,
to strengthen and support its China business.
Federated Farmers believes Fonterra's recall of thousands of
bottles of cream shows the dairy giant's quality assurance
systems work - but Labour says questions will again be raised
about New Zealand's food safety systems.
Dairy products are open to E.coli contamination because of
the prevalence of the bacteria in animal waste, one disease
A long legal battle could ensue following French dairy giant
Danone's decision to launch legal action against Fonterra
over last year's botulism scare.
Fonterra will "vigorously defend"court action French food
giant Danone is bringing against it in the wake of the
botulism scare and says it is confident of its position.
Fonterra dropped a bombshell last week when it announced its
latest consideration on its farmgate milk price.
Fonterra has unexpectedly left its forecast milk price
unchanged at $8.30 and slashed its dividend by 22c, due to
what it describes as an ''extraordinary situation''.
Think Park Beede and basketball immediately springs to mind.
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