4 November 2008
Farmers disappointed at announcement
Federated Farmers Meat & Fibre Chairman, Bruce Wills has expressed disappointment at yesterday’s announcement that Silver Fern Farms Limited has
terminated the agreement relating to the partnership proposal with PGG Wrightson.
“The failure of this proposal is yet another hurdle that farmers will have to overcome in their quest for a viable and
sustainable industry.
”Both companies have worked hard to make this partnership happen, but I think we all understand how difficult raising
the money required was going to be in light of the current world financial turmoil.
“Farmers were looking to this partnership to deliver an injection of capital, a more integrated supply chain and new
management thinking.
“While it is encouraging that Silver Fern Farms has said its future is not dependent on the partnership transaction, it
is likely changes that would have been implemented with the injection of new capital will take longer to be realised.
“As I have previously stated, the supply chain initiative recently unveiled by Silver Fern Farms is very much a step in
the right direction towards reaching the Federated Farmers T150 goal of $150 for an average mid-season lamb.
“Federated Farmers wants all those involved in the lamb supply chain, from the paddock to the plate from farmers to
processors, researchers, marketers, transporters and supermarkets to lift their sights and help achieve the T150 goal.
“The announcement provides suppliers with some certainty around the situation. I hope that this disappointment will act
as a stimulus to the wider industry to press forward with the changes that are badly needed,” Mr Wills said.
ENDS