News | Rural
29 May 2022 19:57
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  •   Home > News > Rural

    The fate of Fonterra farmers is in the hands of Agriculture Minister Damien O'Connor

    The fate of Fonterra farmers is in the hands of Agriculture Minister Damien O'Connor


    Fonterra
    Fonterra
    The co-op's farmer shareholders have voted to support a change to its capital structure, which would reduce the number of shares needed to join, and discourage farmers from selling extra shares to non-farmers.

    NZME's Rowena Duncum says the system needed change but they still have to get past O'Connor, who's been cold to the idea.

    However, she isn't sure how one man against 85 percent of Fonterra shareholders is going to stack up.

    © 2022 Newstalk ZB, NZCity

     Other Rural News
     26 May: Fonterra's fired its opening shot for the 2022/23 season
     24 May: Seismic global events have left the milk market on shaky ground
     16 May: DairyNZ says the Government's commitment of 339-million-dollars to reduce agricultural greenhouse gas emissions will help Kiwi dairy farmers remain 'high-performing'
     05 May: The Prime Minister's buoyed by news Mycoplasma bovis is all but eliminated in New Zealand
     27 Apr: Fonterra says it would prefer no government conditions on its capital restructure, but always knew there was going to be some give and take
     20 Apr: Dairy farmers have plenty to be positive about, despite the recent drop in global dairy prices
     15 Apr: A new report claims the capital restructure of Fonterra, New Zealand's biggest business, will cause its farmers a short-term loss of $4 billion, strengthen the dairy company's market dominance and push up the price of chilled milk at the shops
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