‘DISAPPOINTING’ LOSS www.foodtechnology.co.nz 7 NEWS SNIPS AgResearch says New Zealand’s record-breaking heatwave this summer, - including the hottest recorded temperatures in Dunedin and Invercargill - could affect farmed animals and needs to be managed Auckland-based Nourish Group has purchased Soul Bar & Bistro, in a market feeling the competitive pinch and facing rising food and labour costs French payments systems provider Ingenico plans to integrate New Zealand’s Paymark payment network with its recently acquired Bambora business to offer a broader array of services to local retailers and financial institutions Wangapeka Family Dairy - a 187ha Nelson dairy farm famous for producing award-winning artisan cheeses – has been offered for sale by owners Trafford family complete with its A2 herd and purpose-built cheese factory. Fonterra has lashed out at a forecast earnings downgrade of Chinese company Beingmate Baby & Child Food Co, saying it is extremely disappointed by the announcement and the ongoing performance of the company in which it holds an 18.8% shareholding. Beingmate has forecast a loss of between NZ$171 million and NZ$214 million for 2017, and Fonterra says it will seek more information along with the company’s full year financial statements. “We are also aware that as part of this announcement, four Beingmate directors (including the two directors designated by Fonterra Johan Priem and Christina Zhu)) have expressed reservations relating to some aspects of Beingmate’s financial management and reporting practices,” the company says. Despite the news, Fonterra says its stake in Beingmate has a strategic rationale, but says the company is not maximising opportunities created by the early registration of its 51 formulations under the new registration rules. “The Chinese market is growing rapidly and within five years, forecast demand for infant and baby dairy products will be more than the total for other global markets, so the potential remains,” Fonterra says. China is one of Fonterra’s largest global markets, accounting for NZ$3.4 billion of sales revenue and a normalised earnings contribution of greater than NZ$200 million in FY17. world. The opportunity to help experts better understand the scale of marine plastic contamination is one we will continue to embrace as Volvo’s contribution to this global crisis,” he says. A second boat - Team AkzoNobel – will join Turn the Tide on Plastic using on-board data gathering equipment to measure water quality and composition, as well as microplastics in some of the world’s remotest oceans. The scientific research is collected using a state-of-the-art instrument, designed especially for the Volvo Ocean 65 racing yacht. Volvo is funding the Volvo Ocean Race Science Programme by donating a portion of new vehicle sales to the environmental cause. Seven teams compete in the round-the-world race – dubbed the toughest test of a team in professional sport – racing 45,000 nautical miles and visiting 12 host cities on six continents. The race is due in Auckland around February 27. More than a quarter of Kiwis are maintaining a vegetarian or vegan diet today, and 69% are willing to pay more to get the best organic, sustainable and ethically produced products. New Colmar Brunton research says compared with 2014, 7% more Kiwis have biffed meat and/or animal products, and those not using plastic bags from supermarkets and shops hiked 5% to 83%. The Better Futures 2017 research says more than 80% of New Zealanders are worried that not enough is being done to keep the nation safe and healthy in terms of environmental and social issues. Colmar Brunton’s Sarah Bolger says almost all of those surveyed claim that they live reasonably sustainably, with 97% recycling and 36% of people aged 30- 39 going vegetarian or vegan. Women are more likely to buy organic, and 80% say they grow their own fruit and vegetables. The Sustainable Business Council says it is great to now have a couple of years of data to see how New Zealanders behaviours and views are changing over time. “But if seven out of 10 New Zealanders can’t name a brand they consider a leader in sustainability, this shows there’s a huge opportunity for businesses that are doing it well to connect with consumers,” executive director Abbie Reynolds says. “As conscious consumerism grows over time, it’s increasingly going to be the company or brand’s job to help them understand how they can make more sustainable choices.” RESEARCH ON SUSTAINABILITY
FT-eMag-feb18
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