The Commerce Commission said it had cleared Fonterra to
acquire the dairy processing assets of New Zealand Dairies,
which is in receivership.
The lowering last week of the forecast payment Fonterra will
make to farmers for milk this season has much wider
repercussions than just the bank balances of the country's
14,000 dairy farmers.
Dairy farmers have been again urged to "pull the belt buckle
in" after Fonterra sliced 30c from its previous forecast
range for the 2012-13 season to $5.65-$5.75.
Fonterra said it had downwardly revised its forecast payout
to farmers for the 2012-13 season due to ongoing strength of
the New Zealand dollar.
FOonterra has welcomed the Commerce Commission's final report
on a "dry run" review of how the dairy giant sets its farm
gate milk price.
Fonterra has notched up a record end-of-season quarter with
620,000 metric tonnes of dairy products exported - up 36% on
the same period last year.
Production has started at Fonterra's new $200 million milk
powder plant near Darfield.
Waikato dairy farmer John Wilson has been named
chairman-elect of Fonterra, replacing Sir Henry van der
Fonterra has welcomed the passing of the third and final
reading of the DIRA Bill, which provides the legislative
changes needed to enable Trading Among Farmers (Taf).
Fonterra has dropped from third to fourth place in Rabobank's
latest survey of the world's top 20 dairy companies.
A fresh start from familiar foundations
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