Fonterra today announced that it has taken options on land for a planned new milk processing plant in central Canterbury, which it expects to be operating in September 2012.
Fonterra’s Managing Director Trade and Operations, Gary Romano, said the development would be among the largest investments in manufacturing in New Zealand in the past five years and would cater for strong milk growth in the area in the future.
The latest Fineprint is available here.
This issue contains:
- Social media and intellectual property
- Bank accounts and ownership; and
- Fonterra’s capital restructuring
The lack of rain is a cause for concern for Waikato dairy farmers and Fonterra has said that Northland is suffering from a 29% reduction in production as a result of low rainfall.
You can read the Rural Market Report and the Rural Market Statistics here.
A continuation of a fall in sales in the rural property market has been confirmed in the latest figures released today by the Real Estate Institute of New Zealand Inc (REINZ).
REINZ President Peter McDonald says there are still reasonable levels of inquiries for all types of farms but they do not seem to be resulting in completed transactions.
The national median farm sale price remained steady at $1,045,000 for the three months to February 2010, just fractionally up on the median for the three months to January 2010. However, it is well down on the $1,750,000 recorded in the three months to February 2008.
From the Dominion Post…Strong words against the New Zealand dairy industry by United States lobbyists trying to keep it out of a trans-Pacific partnership free trade agreement are being viewed as curtain-opening rhetoric.
So called ‘dirty dairying’ has been the hot topic in a number of recent media stories in both industry and mainstream publications.
Both Fonterra and the government are poised to take action over the minority of farmers that are non-compliant with their effluent management.
DairyNZ says it is disappointing that dairy farm effluent non-compliance is still unacceptably high throughout the country, despite considerable industry effort to improve the situation.
Fonterra will add effluent infrastructure inspections to its annual dairy shed inspections of the Waikato’s 4000-plus dairy farms once staff are trained this month. It will roll the scheme out across the remaining 6500 shareholders next season.
For advice on how this might affect you, please make contact with one of our farming experts.
For more information….
by Hayley McLean – solicitor Edmonds Judd
Farming is an industry that traditionally has relied on (dare I say it ladies) a man’s word. A world where a man’s word was as good as his bond and with a shake of the hand the deal was done. Over time this ethos has changed. You may blame technology, the concept of business, the dreaded “Recession” or a lack of discipline; however the issue remains that financial markets have seen a major influx of debtors on the books and creditors are finding that handshake harder to rely on. Especially when it comes to having such verbal or oral agreements tested through our court system, a system that functions on the written word…..
The latest Trust eSpeaking – hot off the press
In this issue:
- Division of Trust Assets on Separation: Family Proceedings Act can apply
- What Type of Trust do you Have? Important tax implications
- Advisory Trustees: all care and not the responsibility
The next issue of Trust eSpeaking will be published in September.