Friday , September 22 2017
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Tag Archives: Fonterra

Beingmate shares drop to 2 1/2 year low in Chinese stock rout

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Beingmate Baby & Child Food Co shares fell to their lowest since February 2013, after being caught up in the global share-market rout that’s dented Chinese equity markets, slicing more than $200 million from Fonterra Cooperative Group’s investment in the Hanzhou-based infant formula maker. The Shenzhen stock exchange-listed shares dropped …

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Fonterra overshoot on 2015 advance payment worsens 2016 farmer cash flows

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Milk prices have dropped so dramatically that Fonterra Cooperative Group effectively overpaid farmers under an advance payments scheme last year, sapping funds available to pay out farmers at the end of the season and leaving them short of cash even before last week’s deep cut to the 2016 forecast payout. “Last year, Fonterra came …

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Fonterra slashes payout, farmers offered $430m cash advance

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Fonterra  has slashed its farmgate milk price for the 2015/16 season by $1.40 to $3.85 per kilogram of milk solids but is supporting cooperative members with an additional 50 cents per shared-up kilogram of milksolids in the form of an interest-free loan. The initiative softens the blow for farmers, who’ve seen …

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Fonterra top brass on notice from farmers as 523 jobs go in shake-up

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Federated Farmers says top management should be leaving Fonterra Cooperative Group if results don’t start improving in the next couple of years. The comments, from Fed Farmers dairy chair Andrew Hoggard were in response to the confirmation today by the world’s largest dairy exporter that it will cut 523 jobs to save …

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Fonterra raises $230 mln in dim sum bond to fund Beingmate investment

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Fonterra Cooperative Group, the world’s largest dairy exporter, sold its third dim sum bond, raising 1 billion Chinese yuan, or $230 million, with the proceeds helping fund the stake in Beingmate Baby & Child Food.  The five-year bond, which is priced in yuan but issued outside of China to tap international investors, will carry …

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Regulator begins review into dairy competition since Fonterra’s inception

The Commerce Commission has released details of the scope of its inquiry into whether Fonterra Cooperative Group’s 87 percent of New Zealand’s milk pool gives it too much market dominance. The review is required under the Dairy Industry Restructuring Act 2001, when Fonterra was established, which sets rules for supply to …

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