On Wednesday, Fonterra New Zealand's dairy giant predicted a fall of up to 50 percent in full-year earnings and cut down its dividend.
The co-operative, that controls almost one third of the world dairy trade, forecast earnings before interest and tax (EBIT) in the year to July 2014 of NZ$500 million-NZ$600 million ($415 million-$500 million), from NZ$1.02 billion in
The fast-food chain McDonald's now has a new section on its website, called "Our Food, Your Questions". Patrick Wilson, the food giant's New Zealand boss mentioned that the company is hoping to throw light on a few of the myths and preconceptions about the meals on its menu.
The world's biggest dairy exporter New Zealand's Fonterra , hung on to its record-high forecast payout to farmers for the existing season while repeating that the company's margins would take a punch from volatile dairy prices.
The country's largest meat processor Silver Fern Farms will undertake a review of its business after suffering a mammoth $28.6 million loss for the year to September. It has hired PricewaterhouseCoopers (PwC) to undertake the review.
The loss has been largely blamed on the company's sheep meat operations, with market consumption and pricing regularly dropping during the first half the year.
On the verge of the announcement that Synlait Dairy Farms in Canterbury is to be sold to the Chinese owner of the Crafar farms in the North Island, Spokesman Richard Prosser of Primary Industries said the deal was "economic madness".
as "This is not foreign investment, it is foreign takeover.
As per recent reports, it has been unveiled that an independent inquiry has taken place in the botulism scare taken place in Fonterra.