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Jamie Mackay: The Country host on the CEO of Synlait resigning · Best of Business

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  Speaker 1: You're listening to a podcast from Newstalk ZEDB. Follow this
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  Speaker 1: and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Jamie McKay hosts of the Countries with us Helo. Jamie
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  Speaker 2: get a head Now, why does Sinlay boss resign?
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  Speaker 3: Well, that's a good question. No reason it's given for
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  Speaker 3: his departure. I know this bloke reasonably well. Richard Wire.
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  Speaker 3: He's a good bloke. He's got a good record, got
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  Speaker 3: a good track record in the dairy industry. He was
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  Speaker 3: formerly the chief executive at Miraka and then Westland. Milkie
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  Speaker 3: got head hunted by Sinlay and he's been in the
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  Speaker 3: job for just over twelve months and he's resigned. I
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  Speaker 3: think it makes it something like three senior leaders in
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  Speaker 3: that company departing in the past few weeks. He's going
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  Speaker 3: to hang around till June the thirtieth to support an
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  Speaker 3: orderly transition Bright Dairy. They're the owners appointed director Leon
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  Speaker 3: Fung will take over as acting CEO as of May
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  Speaker 3: fourteen today. Meanwhile, Heather on the sticking with the dairy
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  Speaker 3: theme in Canterbury, where Sinlay's based. Canterbury could end up
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  Speaker 3: with twenty five thousand more dairy cows over the next
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  Speaker 3: few years as interest and dairy conversions continue to ramp
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  Speaker 3: up and the arable farmers and Canterbury are having a
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  Speaker 3: pretty tough time of it, not only with the diesel
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  Speaker 3: prices but also poor returns and just trouble and not
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  Speaker 3: very good weather over the past few seasons. So they
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  Speaker 3: thought twelve and a half thousand we're going to come
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  Speaker 3: on stream through dairy conversions. They're saying that number now
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  Speaker 3: could be as high as twenty five th Twenty six
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  Speaker 3: farms currently under conversion for startups in spring of this
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  Speaker 3: year and next year average size eight hundred cows. Meanwhile,
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  Speaker 3: the number of dairy cows nationwide has actually dropped half
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  Speaker 3: a percent to four point six eight million, about two
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  Speaker 3: percent below the five year average, and that's due to
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  Speaker 3: land use change in areas like the Bay are Plenty Force,
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  Speaker 3: where some of that good dairying country is going to
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  Speaker 3: Kiwi for it.
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  Speaker 2: Now, listen, do you see those stats yesterday that wine
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  Speaker 2: consumption worldwide is following, is falling, And if you saw it,
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  Speaker 2: are you worried about it?
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  Speaker 3: Well, I'm doing my bit, Heather. Are know on occasions
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  Speaker 3: you can as well, and maybe we can do our
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  Speaker 3: But after we've finished MCing the primary industry New Zealand Awards.
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  Speaker 3: But yeah, look at it's a real worry for the
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  Speaker 3: wine industry. It's a big industry here in New Zealand.
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  Speaker 3: We've got a grape clut at the moment in this country.
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  Speaker 3: We've got growers, contract growers and places like Marlborough who
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  Speaker 3: are leaving the grapes on the vine because it's not
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  Speaker 3: economic to harvest it. They've got nowhere for it to go.
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  Speaker 3: So it's a real worry. The world consumption of wine
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  Speaker 3: down two point seven percent last year to two hundred
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  Speaker 3: and eight million. Heck, delets, that sounds a lot. I've
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  Speaker 3: got no idea what it is. But the cumulative dropped
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  Speaker 3: since twenty eighteen is fourteen percent. Now nine of the
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  Speaker 3: world's top ten wine markets have recorded lower volumes. Three
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  Speaker 3: markets are really playing an outsized role in global decline. China, France,
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  Speaker 3: United States. I didn't know this, Heather, but the United
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  Speaker 3: States is the world's leading wine market. I just thought
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  Speaker 3: they drank Budweiserer over there. Consumption foul four point three
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  Speaker 3: percent last year. The other one is France, of course,
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  Speaker 3: they're fairly cultured, down three point two percent, But wait
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  Speaker 3: for this one and maybe Trump can help this on
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  Speaker 3: his visit over there. At the moment, China world wine
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  Speaker 3: consumption has fallen by thirteen percent last year and a
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  Speaker 3: massive sixty one percent since twenty twenty, So the wine
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  Speaker 3: industry worldwide is in trouble.
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  Speaker 2: Oh wow, hey Jamie, Thanks very much. Jamie McKay, host
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  Speaker 2: to the Country.
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