1
7 Riddet researcher recognised in Paris Vol 22 No 41 | October 21, 2024
View online at farmersweekly.co.nz
$4.95 Incl GST
SFF eyes role in Alliance restructuring NEWS
Production
M
EAT company Silver Fern Farms says it is willing to be involved in the Alliance Group’s restructuring programme. Whether that involves taking a financial stake or some industry facilitation role is not clear from a carefully worded opinion column by SFF chief executive Dan Boulton published in this week’s Farmers Weekly. Boulton said he would speak further next week. Despite the absence of those details, Boulton’s column resurrects memories of calls by some farmers in the early part of this century for the two southern meat companies to merge. That call was eventually extinguished in 2016 when Shanghai Maling invested $267 million for a stake in Silver Fern Farms Ltd, alongside Silver Fern Farms Co-op, which resolved its debt and financial issues. Alliance needs to increase its capital base by between $100m and $150m and is doing that through a mixture of increased shareholding, reducing inventory, shortening the credit cycle for customers and cutting costs. The co-operative has increased retentions on stock supplied to lift the number of shares shareholders are required to hold from 12 to 16 shares per stock unit processed.
Boulton says SFF’s offer comes from its experiences, and the need for the industry to address the challenges from declining livestock numbers and for the sector to be economically viable. “That’s why we want to be constructively involved in achieving the best outcome for the long-term success of all farmers and NZ Inc, and why we’re supportive of an industry solution to Alliance Group’s considerations,” he writes.
We believe SFF’s support is the only way to create truly long-term value for both parties. Dan Boulton Silver Fern Farms Ltd “With the challenges we face both domestically and globally, we believe SFF’s support is the only way to create truly long-term value for both parties and the broader sector. “Nothing else will offer the same as an NZ Inc play, alongside the benefits SFF can bring, such as our forward-looking focus on our markets.” Whether Alliance has the support of shareholders will become clear in the coming months as new season stock starts to flow. Continued page 3
Blind farmer quietly raises his sights After a devastating accident 50 years ago, Wayne Barker was determined to carry on farming, and adapted his systems accordingly. These days Alexa, Siri and his trusty guide dog make things easier.
PEOPLE 10
S FOECT CU OR S
Neal Wallace
The lure of saffron’s golden threads Graham Strong and Wendy King have been growing saffron for 12 years in the microclimate of Otago’s Teviot Valley.
HORTICULTURE 21-22 Resource consent to farm not the intention of Fish & Game action.
International wheat harvest We need leaders who will woes could favour NZ set impossible goals, says arable farmers. Ben Anderson.
NEWS 3
NEWS 5
OPINION 19