by Luci | Jul 27, 2023 | Default
Fonterra will spend up to $50 million buying back its shares over the coming year to support their value. The co-op says it planned to acquire as many as 77 million shares or up to 5% of those on issue. Fonterra undertook a similar $50 million buyback last year,...
by Luci | Jul 26, 2023 | Default
North Island maize growers say this season has been one to forget, and for some it a financial disaster. The latest Arable Industry Marketing Initiative or AIMI report estimates a maize grain harvest of 164,400 tonnes, down 13% on 2022. Fed farmers Arable Industry...
by Luci | Jul 26, 2023 | Default
Westpac agri economist Nathan Penny is generally one of the more optimistic forecasters but the ongoing sluggishness of the Chinese recovery is causing concern. And it has resulted in Westpac lowering its 2023/24 milk price forecast to $7.80/kg. Nathan Penny says for...
by Luci | Jul 26, 2023 | Default
New Zealand Emissions Trading Scheme units have jumped to $65 after the Government lifted auction prices and reduced the number of available units. Units had been trading on the secondary market at just $45 on Tuesday, and had fallen as low as $36.50 earlier in July....
by Luci | Jul 26, 2023 | Default
Carpet maker Bremworth is offering staff at its cyclone-damaged Napier factory the option of voluntary redundancy or redeployment to its Whanganui plant. Bremworth’s yarn spinning plant in Napier’s Awatoto industrial area was damaged by flooding from Cyclone Gabrielle...
by Luci | Jul 25, 2023 | Default
Some farmers could struggle to break even at the current milk price forecast for the dairy sector. DairyNZ’s head of economics, Mark Storey says rampant inflation and high interest rates have seen total expenses increase on average by 33% over the past three years and...
