Fonterra's destruction of value continues

Fonterra's destruction of value continues
Farmers are like lemmings following Fonterra over a cliff. (Image: iStock)
Jenny Ruth
Castalia's report on Fonterra's restructuring may not be the cause, but since it became public in April, the value of Fonterra shares has dropped a further $1.1 billion, taking the total value lost since the restructuring was announced to $3.68b.While Fonterra pushed back against the Castalia report, focusing on its valuation of the shares at between $1.79 and $2.32 after the restructuring and calling this misleading, the share price is now within that range, closing on Friday at $2.28 after touching $2.22 earlier in the week.At that pr...

More Primary Sector

Zespri on track for 'moderate increase' in volume next year
Primary Sector

Zespri on track for 'moderate increase' in volume next year

Zespri's producer vote to expand global supply passed this week.

Yashili NZ revenue dropped 42%
Primary Sector

Yashili NZ revenue dropped 42%

The Chinese-owned dairy processor’s accounts were due in May.

Zespri growers vote in favour of expanding global supply
Primary Sector

Zespri growers vote in favour of expanding global supply

Zespri’s growers have voted to support the expansion of the kiwifruit marketer’s global supply.A total of 90.6% of voting growers and 93.3% by fruit weight voted in favour of the resolution, which will allocate up to 420 hectares of SunGold fruit per year over six years in Italy,...

Riley Kennedy 11 Dec 2024
Greyhound racing to end
Primary Sector

Greyhound racing to end

Winston Peters says it will be phased out over 20 months.

Riley Kennedy 10 Dec 2024