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Tatua has topped last season’s milk payout, leaving Fonterra and other processors far behind. Waikato milk processor Tatua Dairy has done it again -- topping last season’s milk payout, leaving Fonterra and other processors far behind. The Morrinsville cooperative, owned by 86 farming families, will pay its suppliers $6.30/kgMS for the 2015-16 season, retaining 11c/kgMS for plant upgrading. Tatua has a distinguished history of topping the payout stakes. Fonterra suppliers will get a final payout of $4.30/kgMS, comprising a farmgate milk price of $3.90/kgMS and a dividend of 40c/share. Suppliers of Westland Milk, Hokitika, New Zealand’s second largest dairy co-op, will get $3.87/kgMS for the last season. Tatua chairman Steve Allen says the 2015-16 season has been a challenging year, with global milk supply rising in the face of generally lacklustre demand; benchmark milk powder prices declined for most of the year. He says Tatua achieved a strong result despite the weak market, selling its caseinate, whey protein casenites (WPC) and anhydrous milk fat (AMF) as customer-preferred product all year; and the co-op increased margins on its specialised added value business as a result of the low NZ milk price. Westland chairman Matt Regan says its payout will be below the breakeven point for most farmers, but the news will not be unexpected. “We have been predicting for the whole season that 2015-16 would be a tough one for farmers, with our recent cash forecasts in the $3.80-$3.90/kgMS range. “We did what we could to maintain farmers’ cashflow by starting the season with a higher advance rate of $3.80/kgMS and holding this. This ensured our focus was on cashflow management and delivered as much cash as possible to shareholders.” Tatua benefited from its hedging policy in the face of a strengthening NZ dollar.


For the original version including any supplementary images or video, visit http://www.ruralnewsgroup.co.nz/item/10740-tatua-tops-fonterra-again



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New Zealand crowdfunding campaign raises millions in bid to save chocolate factory Closure of Dunedin Cadbury would put 350 employees out of work but locals hope to buy its equipment and start a new factory Last modified on Friday 9 June 2017 07.18 BST A crowdfunding campaign to save a chocolate factory in New Zealand has raised NZ$3.3 million in less than two days, prompting hopes that locals can continue the tradition of chocolate-making – and eating. Mondalez International announced in February it planned to close its 80-year-old Dunedin Cadbury factory next year, putting 350 employees out of work and shifting production to larger Australian plants. No yolk: Cadbury and National Trust say Easter egg row is nonsense The closure put the future of niche sweets and chocolate beloved by Kiwis such as Pineapple Lumps, Chocolate Fish and Jaffas - in jeopardy. Local Dunedin councillor and businessman Jim O’Malley and a team of volunteers have started a campaign to save the “iconic” history of industrial chocolate-making in Dunedin, with the aim of raising NZ$20 million in two weeks. The campaign launched on Wednesday and has already raised NZ$3.2 million dollars from over 2000 pledgers. They money would be used to purchase chocolate-making equipment from Cadbury’s and buy a smaller factory in North Dunedin. “I was worried this would be a total flop and no-one would pledge,” said O’Malley, a pineapple lump fan, who described the closure of Cadbury’s as “very sad”. “But people have been pledging from all over New Zealand and around the world, I think chocolate-making in Dunedin is seen as part of our national identity.” O’Malley said a quarter of all pledges had come from Auckland, and the largest pledge so far was NZ$50,000. A number of pledges had also been sent from overseas, including North America, England and Australia. “I’d love to own 0.1% of a chocolate factory!” wrote Corwin Newall on the campaign’s Facebook page. “We can only try!!!” commented Adrienne Buckingham on Facebook.


For the original version including any supplementary images or video, visit https://www.theguardian.com/world/2017/jun/09/sweet-success-new-zealand-crowdfunding-campaign-raises-millions-in-bid-to-save-chocolate-factory

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