1 00:00:00,080 --> 00:00:02,160 Speaker 1: Jamie mckaye, host of the Countries with us right now, Hi, 2 00:00:02,279 --> 00:00:05,320 Speaker 1: Jamie good A, hear that. So the Fonterra shareholders have 3 00:00:05,360 --> 00:00:06,400 Speaker 1: said yes to the sale. 4 00:00:07,280 --> 00:00:10,160 Speaker 2: Yes, shak horror. Ninety nine percent of them said yes. 5 00:00:10,600 --> 00:00:14,240 Speaker 2: Unlike the turkeys, Heather, they voted for an early Christmas, 6 00:00:14,280 --> 00:00:19,959 Speaker 2: so overwhelming, no surprise there. Four point two billion was 7 00:00:20,040 --> 00:00:25,239 Speaker 2: the sale price of the mainland consumer brands to Luck 8 00:00:25,280 --> 00:00:28,280 Speaker 2: to lease the French company. They're going to pay out 9 00:00:28,320 --> 00:00:30,920 Speaker 2: three point two billion to the shareholders. We know all 10 00:00:30,920 --> 00:00:33,760 Speaker 2: this two dollars per share, it's going to be something 11 00:00:33,920 --> 00:00:38,680 Speaker 2: like nearly four hundred thousand dollars for your average Fonterra shareholder. 12 00:00:39,240 --> 00:00:41,240 Speaker 2: Sixty percent of them will get at least a couple 13 00:00:41,240 --> 00:00:43,960 Speaker 2: one hundred grand, and they're big boys. The big suppliers 14 00:00:44,000 --> 00:00:48,159 Speaker 2: will get two to three million dollars. So we're expecting 15 00:00:48,159 --> 00:00:51,320 Speaker 2: this to settle before March thirty one, and then the 16 00:00:51,320 --> 00:00:54,920 Speaker 2: capital return will take place. If you're wondering, what's happening 17 00:00:55,200 --> 00:00:58,440 Speaker 2: to the other billion that's left over, the balance of 18 00:00:58,480 --> 00:01:01,560 Speaker 2: the sale proceeds will be retained by the co op 19 00:01:01,600 --> 00:01:06,040 Speaker 2: to reinvest in its ingredients and food service business. But 20 00:01:06,120 --> 00:01:09,160 Speaker 2: that's not the big question from fonterrahead, the big question, 21 00:01:09,480 --> 00:01:11,560 Speaker 2: And I've got Myles Hurrel on my show tomorrow and 22 00:01:11,600 --> 00:01:13,959 Speaker 2: I'll ask him this one is when is he going 23 00:01:14,000 --> 00:01:17,520 Speaker 2: to raise the farmgate milk price? Remember just before Christmas 24 00:01:17,720 --> 00:01:20,759 Speaker 2: they dropped it down to a midpoint of nine after 25 00:01:21,400 --> 00:01:25,280 Speaker 2: nine GDT drops in a row. While we've had four 26 00:01:25,520 --> 00:01:28,720 Speaker 2: really good options to kick off twenty twenty six, So 27 00:01:28,920 --> 00:01:32,000 Speaker 2: I would expect sooner rather than later for that midpoint 28 00:01:32,040 --> 00:01:34,840 Speaker 2: maybe to get up to nine dollars fifty Yep. 29 00:01:34,920 --> 00:01:37,760 Speaker 1: Good, I like the sound of that. And speaking of 30 00:01:37,760 --> 00:01:39,200 Speaker 1: good things, Zesbur's looking pretty good. 31 00:01:39,240 --> 00:01:43,960 Speaker 2: Ah yeah. It's final forecast for the twenty five twenty 32 00:01:44,000 --> 00:01:47,319 Speaker 2: six season before it gives its final numbers out record 33 00:01:47,400 --> 00:01:53,160 Speaker 2: returns or record returns per hectare for all fruit categories. 34 00:01:53,160 --> 00:01:56,040 Speaker 2: That's the whole lot. Now, the likes of Zespburry Green, 35 00:01:56,320 --> 00:02:01,760 Speaker 2: Organic Green and organic sun Gold, they've gone up in price. 36 00:02:01,800 --> 00:02:04,800 Speaker 2: All the rest have held their own. For example, like 37 00:02:05,000 --> 00:02:09,280 Speaker 2: a tray of Zesbury Green, the good old Chinese gooseberry 38 00:02:09,360 --> 00:02:11,880 Speaker 2: that we remember from years and years ago. Look that 39 00:02:12,040 --> 00:02:14,520 Speaker 2: is now up to ten dollars per tray. That is 40 00:02:14,560 --> 00:02:18,760 Speaker 2: great money. Sun Gold the most popular ones eleven dollars 41 00:02:18,800 --> 00:02:23,800 Speaker 2: seventy a tray. There's a significant premium four organic the 42 00:02:24,000 --> 00:02:26,840 Speaker 2: likes of sun gold, it's another four dollars a tray, 43 00:02:26,919 --> 00:02:31,040 Speaker 2: so up to about fifteen dollars eighty there. Interestingly, the 44 00:02:31,200 --> 00:02:37,720 Speaker 2: per hectare returns for the organic versus the traditionally grown 45 00:02:38,360 --> 00:02:41,600 Speaker 2: sun gold pretty much the same on a per hector basis, 46 00:02:41,600 --> 00:02:44,120 Speaker 2: and that's because of the lower yield from the organic crop. 47 00:02:44,240 --> 00:02:47,760 Speaker 2: So Zesbury have come out and said they've got a 48 00:02:47,800 --> 00:02:51,000 Speaker 2: record crop of around two hundred and fifteen million trays 49 00:02:51,040 --> 00:02:53,000 Speaker 2: to sell. They're going to have no problem doing that. 50 00:02:53,320 --> 00:02:56,919 Speaker 2: Early estimates indicate there's another record crop of two hundred 51 00:02:56,960 --> 00:03:00,000 Speaker 2: and twenty million for the season that we've just started 52 00:03:00,080 --> 00:03:04,360 Speaker 2: picking now. The picking for the ruby red is underway 53 00:03:04,360 --> 00:03:08,640 Speaker 2: now and Zespery chief executive Jason to Brake, he said 54 00:03:09,160 --> 00:03:11,600 Speaker 2: they're trying to get their marketing team out there. They're 55 00:03:11,600 --> 00:03:14,079 Speaker 2: going to sell a large proportion of the crop early 56 00:03:14,120 --> 00:03:16,720 Speaker 2: in the season to help avoid the late season fruit 57 00:03:16,840 --> 00:03:20,680 Speaker 2: quality costs that they experience with sun Gold last season. 58 00:03:20,720 --> 00:03:24,800 Speaker 2: So look, Heather Kiwi fruit going great guns are red 59 00:03:24,880 --> 00:03:28,360 Speaker 2: meat at record High's Dairy on the way back up. 60 00:03:29,200 --> 00:03:31,520 Speaker 2: It's all looking good unless you're an arable farmer and 61 00:03:31,560 --> 00:03:33,240 Speaker 2: Canterbury where you just can't get a break. 62 00:03:33,320 --> 00:03:35,120 Speaker 1: Yeah too right, Hey, thank you very much, as always 63 00:03:35,160 --> 00:03:36,880 Speaker 1: Jamie Jamie mckaye, host of the Country. 64 00:03:37,480 --> 00:03:40,640 Speaker 2: For more from Heather Duplessy Allen Drive, listen live to 65 00:03:40,760 --> 00:03:43,800 Speaker 2: news talks it'd be from four pm weekdays, or follow 66 00:03:43,840 --> 00:03:45,600 Speaker 2: the podcast on iHeartRadio.