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Farmer feedback set to shape revised capital structure proposal

With the first phase of Fonterra’s capital structure consultation now complete, the Co-op is drawing up a revised proposal that aims to reflect farmers’ views. A number of changes are being considered to the preferred option initially put forward in the Consultation Booklet in May – including adjusting the proposed minimum shareholding requirement for farmers and enabling sharemilkers and contract milkers to own shares. “It’s a good time for the Board to step back and reflect on the feedback as most farmers will now be busy with calving. Once they’ve come through this particularly busy time of the season, we’ll be ready to consult on the updated proposal,” says Chairman Peter McBride. Consultation has been extensive to date, starting with the initial communication on 6 May and the Consultation Booklet being sent to every farmer owner. Since then: Directors have held 90 farmer meetings, attended events such as the My Connect conference and Field Days as well as leading 7 online webinars and speaking with many farmers directly. Over 5,000 farmers have directly engaged through feedback channels, in addition to discussing the options with each other. Members of Fonterra’s Board and management have also been talking with other groups such as the Co-operative Council (formerly the Shareholders’ Council), the Fonterra Shareholders’ Fund, the Government, major banks and rural professionals. This engagement will continue as the consultation progresses. “We would like to thank our farmer owners for getting involved and approaching the consultation with open minds,” says McBride. “We also want to acknowledge the uncertainty that comes along with us considering changes to our capital structure and the significant challenges that it’s creating for some farmers. The best way to give certainty is to ensure we have a full discussion as a Co-op and get to a quality outcome. “The Board maintains its belief that, in a flat or potentially declining milk environment, making changes early will put us in the best position to provide farmers with more flexibility while protecting farmer ownership and strengthening our Co-op’s financial sustainability.” Summary of farmer feedback Many farmers said that additional information on the Co-op’s business strategy and future performance would help them form a clearer view on capital structure. “In August and September, we will provide further information on our long-term strategy including the types of activities we will invest in, the returns we are […]

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Lincoln alumnus banks Young Farmer title

Banker, and Lincoln commerce graduate, Jake Jarman’s win in the recent FMG Young Farmer of the Year contest highlights the diversity of the agriculture sector. He was competing against, among others, a solutions and development specialist, a farms systems scientist, technical specialist, and regional sales manager. Only two of the competitors were on the pasture side of the farm gate, working in dairy farming. The 2019 winner (no winner in 2020 due to Covid-19) was in a business graduate programme, while a vet was also in the final. Jake is an ANZ Relationship Associate and comes from a fifth-generation family dairy farm, though two of his fellow finalists were from urban backgrounds. “I opted to go down the commerce route for my studies because it’s always been something I’ve found interesting,” he said. He has not strayed too far from his roots in his job though, as he helps customers to start, grow and maintain their rural businesses, and his degree helped in his career and in the competition. “The Bachelor of Commerce (Agriculture) course at Lincoln was great in that it allowed me to learn about a wide range of the agricultural industry,” he said. The compulsory practical work farm placements component meant he also learnt crucial practical skills during his summer breaks. He said the programme also included a whole year looking at one business and having to analyse their financial and physical performance, but then also be innovative in coming up with an investment idea. Field trips to the Lower North Island, Waikato, and Southland were highlights. “I thoroughly enjoyed them because we were immersed in the ag industry for a week, and I was able to learn about farming in all the different regions of NZ.” Jake said the reaction at work to his win had […]

New agricultural sciences facility for Lincoln University

Lincoln University has opened the first of two new science buildings, marking a significant milestone along a journey that began more than 10 years ago, following the 2010/2011 Canterbury earthquakes. The Minister of Research, Science and Innovation Hon Dr Megan Woods performed the formalities, cutting the ceremonial ribbon to officially open the building that will be home to over 50 staff and postgraduate students from Lincoln University’s Department of Agricultural Sciences, responsible for teaching and research in the animal sciences. During the opening ceremony, Lincoln also acknowledged its elevated profile as a world-ranked land-based university, underpinned by its substantial growth in domestic student numbers and its expanding influence within New Zealand’s increasingly important food and fibre sector. Acting Vice-Chancellor Professor Bruce McKenzie said the new science facility will strengthen Lincoln’s commitment to help drive New Zealand’s transition to a more productive, low-emissions economy. “Lincoln University has always been a chief driver of innovation in agriculture, particularly in the food and fibre sectors, and our new facilities will position us to take an even more prominent role in developing solutions for the most pressing challenges facing the land-based industries. “Our university has been producing primary sector graduates for more than 140 years, and we remain dedicated to attracting and inspiring future generations of tauira; equipping them with the knowledge and skills needed to grow a better future. “It’s appropriate and timely that we deliver a new cutting-edge science facility as a base where our people, including our world-leading researchers, can continue their critical contribution to shaping more prosperous and sustainable communities.” Among the new building’s state-of-the-art facilities is a purpose-built gene marker laboratory where Professor Jon Hickford leads a team specialising in the molecular genetics of ruminants, working to identify genetically superior animals. Professor Hickford’s team is internationally recognised, and recently […]

Construction technology on show at Fieldays

Over the course of Fieldays 2021 some of the latest innovations in next generation construction technology was on show. Synergy had plenty of product demos to elevate awareness around these new and exciting solutions in New Zealand. The positive atmosphere around the live demonstrations was encouraging, and showed that Kiwis are curious to learn more about the latest technology that can maximise efficiency in construction and agriculture. Topcon’s X-53x with the LN-150 Robotic Total Station The latest generation X-53x excavator system on display connected to the Yanmar SV100, and focused on demonstrating the capabilities of the new LN-150 self-levelling robotic total station by Topcon. The beauty of the LN-150 is that it doesn’t rely on satellite tracking or base stations. Instead, it uses optical angles and distancing to measure the prism on top of the cab of the excavator, in combination with IMU sensors within the excavator system, which gives the machine it’s heading and position down to the bucket. This opens up the possibilities in regard to the location of your site, where access to satellites and sky view might be obstructed – working under a building, or a thick bush canopy, for instance. And there was Topcon’s additional pre-release of the slew sensor, which allows you to slew an offset boom excavator more accurately, giving the bucket position left and right. This development has been highly anticipated by the market. On that note, Synergy says a huge thank you to their friends at TransDiesel who supplied them with both the Yanmar excavator, and the Volvo 145 to show off the Steelwrist Tiltrotator. The interactive displays wouldn’t be possible without their help. The Steelwrist Tiltrotator Another show-stopper Synergy had on display was the Steelwrist Tiltrotator. With this amazing piece of technology, they could show the audience some of the latest […]

Fonterra agrees sale of China JV farms

Fonterra has agreed the sale of its two joint venture farms in China, with the sale expected to be completed on 30 June. The farms in Shandong province will be sold to Singapore-based AustAsia Investment Holdings for USD 115.5 million. Fonterra, which owns the farms with a joint venture partner, has a 51% stake in the business and will receive NZD 88 million* in total asset sale proceeds, which includes cash on completion. The sale of the JV farms is unconditional and requires no further regulatory approvals. Fonterra CEO Miles Hurrell says the sale is another important milestone for the Co-operative and aligns to its strategy of prioritising New Zealand milk. “The sale of the JV farms allows us to focus even more on our farmer owners’ milk and follows the sale of our two wholly owned China farming hubs earlier this year. “Greater China continues to be one of our most important strategic markets. We remain committed to our China business, bringing the goodness of New Zealand milk to Chinese customers in innovative ways and partnering with local Chinese companies to do so. We are well placed to continue to grow our business in Greater China,” says Mr Hurrell. Fonterra sold its two wholly owned China farming hubs in Shanxi and Hebei provinces to Inner Mongolia Youran Dairy in April for NZD 552 million. * Based on an USD to NZD conversion rate of 0.714 ENDS

Safety profile – It’s so important to take time out

Working in the agri-nutrient sector, Calvin Ball says he has seen a significant change in farmers’ attitudes to health and safety in recent years. Calvin, the Northern 2021 FMG Young Farmer of the Year, grew up on a Northland dairy farm, studied agriscience at Massey and began his career with an agri-nutrient company in 2013. After his OE in London, he returned to the company and is now Northern North Island Regional Sales Manager, heading a team of nutrient specialists. “Going out on farms, I have seen farmers’ attitudes change significantly since 2013,” he says. “Back then, many could be pretty dismissive in their response to conversations about health and safety, but now they are much more on board with the requirements and attitudes are very different.” For Calvin, a strong awareness around farmers managing fatigue and the importance of looking after their mental health and wellbeing and that of their people is a critical part of any health and safety plan. “I’m a strong advocate of being aware and noticing if someone doesn’t seem well. I try to encourage them to talk and to seek help.” Calvin is also a volunteer with Surfing for Farmers in Whangarei. The voluntary organisation started in Gisborne and has spread countrywide. “We help organise it. All the gear is provided, and farmers come along and get free lessons. It gets them off farm and provides the opportunity to learn something new and to catch up with other farmers. We’ve had 100-150 farmers in the water – and we have a barbecue afterwards.” Calvin grew up as one of five children. Like many farm kids, they worked alongside their parents on the farm, learning how to do jobs safely. His father would always supervise them until he was confident they could do a […]

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NZ apiculture industry names top producers and honours outstanding achievements

New Zealand’s best honey producers have been named at the Apiculture New Zealand National Honey Competition held at the industry’s annual Conference recently. The Conference hosted more than 1000 delegates from the apiculture industry at the Rotorua Energy Events Centre from Thursday 24 June to Saturday 26 June. The National Honey Competition was one of the highlights of the event honouring producers across a range of honey categories and naming the top overall producer at a gala dinner on Saturday evening. The 2021 Supreme Award winner was Jarved Allan of 100% Pure New Zealand Honey based in Timaru. Jarved received four gold medals and four silver medals for a variety of honeys including liquid honey, naturally granulated honey, creamed honey, honeydew and cut comb. The runner-up was Rotorua-based, non-commercial beekeeper Kim Poynter who received three gold medals, one silver and a bronze. In third place were Jody and Ralph Mitchell of Kaimai Range Honey from Tauranga who received one gold, two silvers and a bronze medal. Head judge Maureen Conquer said that the judging panel had been extremely impressed with the quality and taste of the honeys entered. “It was an absolute pleasure to sample these honeys over the past day and a half and extremely difficult to determine the winners. The number and quality of entries is continuing to increase each year, showing the true wealth of talent in our industry,” she told those present at the award ceremony. All entries were blind tasted, and an international scale of points was used to determine the winners across 12 main categories. Apiculture New Zealand chief executive Karin Kos said the awards were highly contested amongst beekeepers and honey producers. “Our industry knows that a medal in the ApiNZ National Honey Awards indicates the highest quality of honey. We have so […]

New plantain research a turning point for dairy

A new $22 million research initiative is underway to help dairy farmers improve freshwater quality – through using plantain pastures. The Plantain Potency and Practice programme is designed to help dairy farmers meet environmental goals, government regulations and market expectations. Modelling by DairyNZ forecasts a potential reduction of 15,000 tonnes per year of nitrate-nitrogen leached on 4200 New Zealand dairy farms in nitrogen-sensitive catchments per year by 2035. This is a 37 percent reduction from current levels. Plantain use is predicted to lead to flow-on benefits to national and regional economies. This is due to farmers spending less on other nitrate leaching solutions, therefore having more money to spend on goods and services. Plantain use is expected to save farmers more than $1 billion per decade. The work will focus on proving plantain’s effectiveness at reducing nitrate leaching, investigating regional effects and protecting the supply chain. The programme will use PGG Wrightson Seeds’ Ecotain environmental plantain, because it already has proven effectiveness. The work aims to give farmers confidence to invest in growing plantain as an animal feed on their farms throughout New Zealand. An evaluation system will be developed to assess the environmental benefits of other plantain cultivars. “This programme is very exciting and is geared at delivering many positive outcomes for farmers, the environment and New Zealand’s economy,” said DairyNZ chief executive Dr Tim Mackle. “Plantain offers the sector real potential to deliver a new, effective option for farmers. This research is a platform to see what it can really do for farming and our waterways. Dairy farmers have a long history of innovation on-farm. This is a great example of Government, farmers and organisations working together to refine our practices and technologies.” Associate Agriculture Minister Hon Meka Whaitiri […]

DairyNZ pleased to see funding for flood-affected farmers

Dairy industry body DairyNZ is reassured to see additional funding delivered today for flood-affected farmers in Canterbury. DairyNZ has been part of the cross-sector effort, including Federated Farmers and others, to assess the seriousness of the flood impact and understands its scale and impact on individual farmers. DairyNZ chief executive Dr Tim Mackle said the $4m government funding will certainly deliver greater support for farmers who’ve been significantly impacted by this month’s flood event. “Farmers in Canterbury have had a huge job on their hands cleaning up after the floods earlier this month – many have had paddocks and infrastructure with significant flood damage,” said Dr Mackle. “This has left farmers with parts of their farm businesses unable to function or with huge, manual and costly work to be done to clean up and get back to productive capacity. “Additional funding to support the clean-up is very welcome and we encourage farmers to seek it out. We value the government’s assistance to the sector.” In Canterbury, dairy farming delivers around $1.9b to the local economy and the sector employs around 17,000 people regionally. Feed continues to be the most significant issue for most farmers, as they consider how to get through winter well. “We do know feed is in short supply, but there have been offers to help fill the gap from other regions.” DairyNZ hopes government will continue to monitor the situation to ensure those communities continue to be appropriately supported. MPI has a Feed Coordination and Feed Planning Service for farmers, ph 0800 327 646. Additional flood recovery information is available online at www.dairynz.co.nz

Reduced lactose product launched

IFF announced today the launch of Nurica in North America, providing dairy producers a new way to meet consumer health needs with a premium product. Nurica harnesses the lactose present in milk to naturally generate the highest yield of prebiotic galacto-oligosaccharides (GOS) fibers in situ, resulting in significantly reduced sugar and lactose levels while bringing balanced sweetness and natural milk clean notes. Nurica is a breakthrough innovation for the dairy industry and is marketed under the Danisco range of food solutions that is now part of the IFF family. Health and wellness are more important to consumers than ever, and food and beverages – including dairy – are a core part of their health journeys. Today’s consumers have placed an exceptional focus on their digestive health, including managing lactose intolerance and optimising fiber intake, weight management and sugar/carbohydrate reduction. Until now, it has been difficult for dairy producers to accommodate all these needs while maintaining product quality and profitability. With Nurica, dairy manufacturers now have the ability to solve these consumer challenges in fluid milk products and other neutral dairy applications. In these applications, there is no need for major process changes or additional equipment. Nurica is a simple, one-step solution that can be added directly into milk processing and ensures consistent product because the GOS fibers created remain stable throughout shelf life. “Nurica is an enzymatic solution that enables manufacturers to naturally produce dietary fibers in the form of GOS by transforming lactose that is present in dairy products,” said Collette Lentz, regional industry leader, Dairy Enzymes, North America, IFF. “GOS fibers have shown to increase the population of health-promoting gut bacteria species. With an array of opportunities, the Nurica enzyme has potential for unique innovations related to prebiotics and improving digestive health. For many years, GOS has been […]

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