UPDATED: Business NZ has defended dairy farmers, who are under fire for allegedly paying less than their fair share of tax. DairyNZ says today's quoted figures are misleading.

The companies behind dumped plans to develop intensive indoor dairy farms in South Canterbury’s MacKenzie basin are on the offensive following claims the proposals are being revisited.

In March this year Southdown Holdings, Williamson Holdings and Five Rivers dropped plans to develop the indoor farms after lodging resource consent applications for effluent discharge with Environment Canterbury (Ecan).

Uruguay-based Union Agriculture Group (UAG) has pulled out of its planned takeover bid for New Zealand Farming Systems Uruguay.

UAG and Singapore-based Olam had exchanged competing bids for a majority stake in NZFSU, which rejected Olam’s initial 55c a share offer as too low.

Fonterra has sold its 25% share in a UK joint venture to the majority owner, Danish dairy giant Arla Foods.

The joint venture, AFF, was established in 2002 to market block butter, spreads and aerosol cream products in the UK.

Fonterra chief financial officer Jonathan Mason said the joint venture had been successful.

However, he said the investment was no longer core to the company’s long-term strategy, which is focused on growing value add ingredient sales and on regional consumer businesses in Asia, Australia/New Zealand and Latin America.