The $150m question: Fonterra watches Russia situation

The NZ government has condemned the Russian invasion of Ukraine. (Image: Getty)

Fri, 25 Feb 2022

Dairy giant Fonterra is keeping a close eye on sanctions against Russia, but says so far there is no impact on its exports to that nation. Russia is the country's 27th largest export market, accounting for more than $330 million in exports. Diary exports make up half of that.Kelvin Wickham, Fonterra’s chief executive officer for Africa, Middle East, Europe, North Asia and the Americas, said: “We obviously just keep monitoring the situation.”Late yesterday, prime minister Jacinda Ardern and foreign minister Nanaia Mahu...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

NZ dollar benefiting from ‘sell US’ trade, more to come

The kiwi is at a five-month high.

Rebecca Howard 11:55am

Markets

Fed, tariff fears send Dow down over 900 points

Blue-chip index heads for its worst April since 1932.

The Wall Street Journal 10:30am

Fed, tariff fears send Dow down over 900 points

The Quiz Free

QuiznessDesk, Thursday, April 22

Take a break and try our quiz.

The Quizmaster 9:15am

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

More Primary Sector

Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025

Primary Sector

Urgent call for change in lagging agri-products approval pathway

But the regulators say changes are being made.

Riley Kennedy 17 Apr 2025

Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025

Primary Sector

Scott Technology's revenue drops 14%

Its long term strategy is not far away.

Riley Kennedy 16 Apr 2025

The $150m question: Fonterra watches Russia situation

More Primary Sector

Your company has a subscription

Team