
$88m China bid for Lochinver Station not in NZ interests
Prime Minister John Key says the decision to reject a bid by the Chinese-owned Pure 100 to buy Lochinver Station does not send mixed messages.
Prime Minister John Key says the decision to reject a bid by the Chinese-owned Pure 100 to buy Lochinver Station does not send mixed messages.
Our economy grew - but less than expected in the second quarter of the year, as agriculture and mining recovered.
Ministers turn down bid by Chinese billionaire Jiang Zhaobai to buy the Lochinver Station.
Does this morning's big jump in world dairy prices mean an increased payout for farmers? There might be a long way to go.
Silver Fern Farms says $261m Chinese input will help meat processor forge ahead with a growth strategy.
Wesley College to be demolished and relocated elsewhere for new small town hosting thousands of new homes.
Silver Fern Farms, the country's biggest meat processor, says its is forming a 50/50 joint partnership with Chinese investors.
Prices are expected to rise at this week's GlobalDairyTrade auction but doubts remain as to how much further improvement is in store.
Wholemilk powder prices, which are key to determining Fonterra's farm gate milk price, rose by 12.1 per cent to an average US$2078 a tonne at the last auction on September 2.
New Zealand stock market operator NZX has accredited American company Straits Financial to access its growing dairy derivatives market.
Pre-tax profits for an average sheep and beef farm in New Zealand will increase to $109,900 this season - 9.6 per cent more than last season, but 3.1 per cent below the five-year average, Beef and Lamb New Zealand says in its 2016/6 season outlook.
Fonterra has confirmed it has put on hold a proposed coal mine at Mangatangi while it assesses its energy options.
Nominations have opened for seats on Fonterra's board, with chairman John Wilson and two other directors up for re-election.
This year's El Nino weather pattern is shaping up to be one of the strongest, if not the strongest, on record - bringing with it an elevated risk of drought.
China government backed Bright Food is understood to be the party in talks to take a stake in Silver Fern Farms.
Deal would increase dominance of New Zealand's biggest meat exporter but erode farmer control of the industry.
Low world dairy prices aren't stopping the NZ industry - production was up 13pc last month from July last year.
Banks appear to have come to the party for NZ farmers needing support during the dairy downturn.
Whole milk powder prices, which are the key to determining Fonterra's farmgate milk price, rose by 12.1 per cent to an average US$2078 a tonne.
Fonterra's move to cut the amount it sells on its global dairy auction appears to have worked.
The grass-fed meat has fewer calories, less cholesterol or fat than beef, and consumers can't seem to get enough.
Fonterra chairman John Wilson responds to criticism last week that Fonterra has been a failure.
Created in 2001, Fonterra was heralded as an "icon of economic transformation", a "breakthrough idea", "helping NZ catch the knowledge wave".
State-owned farmer Landcorp said its profit fell by 84 per cent due mostly due to lower milk and lamb prices.
The country's trade deficit was smaller than expected in July as exports of fruit and meat drove overseas sales higher.
Fonterra's new $230 million high-efficiency milk powder plant at its Pahiatua site has processed its first milk.
The international dairy trade has become the most volatile of all commodities markets.
A new online exchange aims to help investors who own shares in private companies or units in property, farm or forestry syndicates to trade them more easily.
Investment bank says there is a 25 to 30 per cent risk of New Zealand's economy going into recession in the next 12 months.