Westland Milk Products extends 10-year supply agreement with farmers

Westland Milk Products extends 10-year supply agreement with farmers
Westland's factory on the West Coast. (Image: BusinessDesk)
Riley Kennedy
Westland Milk Products has told its suppliers their milk will be picked up beyond the original 10-year agreement.Four years ago, Yili – Asia’s largest dairy producer – bought Westland, which was then a farmer-owned cooperative, for $588 million including debts and liabilities.At the time, a 10-year commitment was made to its supplying farmers that it would collect milk at a price that at least equalled Fonterra’s farm gate milk price.The deal came after three consecutive seasons where Westland’s milk price had trai...

More Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products
Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products

Zhiqiang Li has taken the helm as acting chief executive of Westland Milk Products, effective today.The move follows the resignation of former CEO Richard Wyeth.Li will continue as executive director of Yili Group in Australia and New Zealand.Li said Wyeth joined the company four...

Rebecca Howard 31 Jan 2025
Coal and gold added to critical minerals list
Finance

Coal and gold added to critical minerals list

Banks and insurance companies threatened with regulatory retaliation if they block mining.

Ian Llewellyn 31 Jan 2025
Cannabis rule change having impact
Primary Sector

Cannabis rule change having impact

Regulatory changes in NZ and Germany have made NZ products more available worldwide.

Murray Jones 31 Jan 2025
Chinese New Year crucial for NZ markets
Primary Sector

Chinese New Year crucial for NZ markets

The festive period is largely out of season for NZ's kiwifruit supply.

Riley Kennedy 31 Jan 2025