Finance Minister Nicola Willis to query price of butter in meeting with Fonterra boss
Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
Finance Minister Nicola Willis to query price of butter in meeting with Fonterra boss
Finance Minister Nicola Willis is set to query the high cost of butter with New Zealand-based global dairy co-operative Fonterra today.
Speaking to Ryan Bridge on Herald Now this morning, Willis confirmed she would be meeting with Fonterra chief executive Miles Hurrell tonight.
'I catch up with target="_self" rel="" title="https://www.nzherald.co.nz/topic/fonterra/">Fonterra pretty regularly, obliviously they're a very important exporter in our economy. Hearing their views on the world economy matters to me.'
Willis explained that the meeting 'won't just be about butter' but the high price paid by New Zealanders for the dairy product is on the agenda.
'I will be asking about their retail pricing model, how they're seeing the supermarket's margins, how they're seeing their own margins, understanding what's getting through to the consumer and whether there's anything we can do there.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NZ Herald
an hour ago
- NZ Herald
Free Speech Union's bid to reshape InternetNZ: The results are in, with a late twist
A surge of people duly joined InternetNZ (annual dues: $21). As of February 1, the incorporated society had 383 members, a number its chairman Stephen Judd said had been stable for years. By the time of its board election and annual meeting last week there were 4462 eligible voting members. Things hung in the balance, with it not being clear how many of the newcomers had answered Ayling's call and how many were aiming to counter the FSU incursion. Auditor Grant Thornton says 62.4% of eligible members cast votes – up from 43% last year. FSU wins one of two open seats, none of 12 motions Two of eight board positions were up for grabs, with 13 candidates in contention. Ayling won one of the open seats with 929 votes. The other was picked up by Dylan Reeve (1372 votes), whose varied career includes being the creative partner to journalist David Farrier, who will never make the FSU's Christmas card list. Reeve, 45, who has researched and published articles on online fraud, abuse and conspiracy theories, has often questioned why companies like Facebook don't do more to enforce their rules – and why various authorities don't do more to clamp down on illegitimate or harmful content. A second FSU-affiliated candidate, Christchurch lawyer Douglas Brown (a member of the FSU's council), failed to get elected. In a twist, Ayling quit as FSU chief executive on Saturday. No reason was given for his departure after four years in the role and he could not be immediately reached for comment. All candidates stood as individuals, so his FSU resignation does not impact his new InternetNZ role. The FSU announced over the weekend its chief executive Jonathan Ayling had resigned, with no reason given. The ginger group's deputy chairwoman Jillaine Heather was named temporary CEO. The board election was followed by InternetNZ's annual general meeting, which was held online and attracted about 1000 people. FSU supporters David Farrar and retired District Court judge David Harvey put 12 motions, each seeking changes to InternetNZ's constitution. None were carried. InternetNZ board elections are only held once a year, meaning any FSU takeover was always going to be a long-term project. Critic turned insider Meanwhile, it will be interesting to see how Reeve goes as an insider. Notwithstanding the FSU's rhetoric, InternetNZ has traditionally advocated for a 'free and open' internet and defaulted to a hands-off approach. The aftermath of the Christchurch mosque massacres, when it took 'emergency measures' to make certain sites effectively inaccessible to New Zealanders, was an outlier. Stephen Judd is chairman of InternetNZ, which had income of $15.1 million last year, mostly through wholesaling .nz addresses. The funds go to technical admin to keep our internet running smoothly, plus education and community grants. Former domain name system (DNS) engineer Reeve, who has been notably methodical and even-handed in his various investigations of harmful content, has at times questioned why InternetNZ has taken so long to act against the likes of malicious .nz sites registered with fake details, including, 'parking fee' site recently imitating Auckland Transport and another pretending to be footwear maker Vans. InternetNZ's Domain Name Commission says it acts to review a site's registration if it receives a complaint. Reeve told the Herald the AGM included some ideas for more proactive measures against sites run by bad actors. But that was outside his motivation for seeking an InternetNZ seat. 'I stood for the board because I felt that a well-resourced reactionary group was trying to take control and it wasn't something I was comfortable with,' he said. 'I'm curious to see how things will progress now that most of their efforts to exercise their power have fallen through.' Chris Keall is an Auckland-based member of the Herald's business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.
NZ Herald
2 hours ago
- NZ Herald
Cryptopia customer tried to bribe court registrar for information about company's case
A man claiming to be an affected party in the collapse of a multimillion-dollar cryptocurrency company has tried to bribe a court registrar to release information related to the case for $2 million in Bitcoin. New Zealand-based company Cryptopia was allegedly hacked in January 2019, leading to the loss
RNZ News
3 hours ago
- RNZ News
Auckland City Rail Link maps go up at Britomart
Photo: RNZ/Calvin Samuel A glimpse of a new era in Auckland Transport was unveiled on Monday. At Britomart Station, an updated map gives commuters a preview of the new stations and rail lines it will use when the long-awaited City Rail Link (CRL) opens. The over-budget and over-time CRL is nearing completion, but officials are not ready yet to say exactly when it will open. Auckland's Onehunga, Eastern, Western and Southern lines are being replaced by the Onehunga-West line, the East-West line and the South-City line, new routes detailed in the new map. It is hoped the re-configured network will make it easier for Aucklanders to get around town, as more trains run from more stations - like ones near Karangahape Road and in Mt Eden - more frequently, and link with express buses. Work began on the $5.5 billion CRL in 2017. It was due to be completed last year, and its initial cost was expected to be between $2b and $3b . Auckland Transport chief executive Dean Kimpton said capacity on the network had been boosted. "Currently at peak into the city, we have about 12,000 people per hour," Kimpton said. "The capacity we're creating though the new CRL, day one, will be up to 19,000. Quite the number of people will depend on demand, but we have that capacity ready and available to go." Dean Kimpton unveils the new CRL transport map at Britomart, August 2025. Photo: Finn Blackwell / RNZ Parts of Auckland's rail network had been temporarily closed this year for upgrades ahead of the CRL opening, causing significant disruption. Kimpton said the work was necessary. "We have got very specific planned disruption between our CRL-go-live, and that's designed to bring the network up to a standard to support the frequency that CRL anticipates, and that's the rail network rebuild programme." KiwiRail programme director Bobby Fischer said the short-term pain for commuters was part of a bigger picture. "We're going through a significant period of investment in the network that is all in the lead up to CRL opening, once the CRL is open that level of disruption will reduce significantly." She said KiwiRail has run more than 1600 test trains on the network since February. Photo: RNZ/Calvin Samuel "There's a lot of system testing that's going on, from the signalling system right through to the station system - so the emergency systems testing, ventilation system etcetera, to make sure that when we open everything operates seamlessly as it's meant to," Fischer said. Auckland Councillor Andy Baker said the CRL build had been big for the city. "Politicians we're always pretty keen to find something to grizzle about," he said. "But I think there is, underneath it all, a level of excitement and acceptance that this is what it is." As for an exact date for next year's opening, Kimpton said that was still up in the air. "There's still a lot to be done, and we don't want to promise a date until we're ready to promise a date, but you can be sure when we know, you'll know." Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
