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

Job cuts on the table at embattled BX Foods
Primary Sector

Job cuts on the table at embattled BX Foods

The meat processor operates a plant in Oamaru.

Riley Kennedy 25 Jul 2024
Foresta parts ways with managing director Ray Mountfort
Primary Sector

Foresta parts ways with managing director Ray Mountfort

The company assured shareholders plans for a biomass plant in Kawerau are on track.

Greg Hurrell 25 Jul 2024
NZ raises its concerns with EU over deforestation regulation
Primary Sector

NZ raises its concerns with EU over deforestation regulation

The regulation is tipped to pose “quite significant burdens”.

Riley Kennedy 25 Jul 2024