Expert Says Fonterra Backing Current Strategy With New CEO Appointment
The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.
The Global Dairy Trade (GDT) overnight auction recorded a 3.9% rise in the price index.
Whole milk powder price, which determines Fonterra's milk price to farmer supplies, lifted 3.1% to US$3,306/metric tonne, sitting at its highest level in 12 months.
Key Results
AMF index up 5.5%, average price US$4,604/MT
Butter index up 7.2%, average price US$4,526/MT
BMP index up 6.9%, average price US$2,876/MT
Ched index up 5.0%, average price US$4,078/MT
LAC index up 7.4%, average price US$1,099/MT
SMP index up 4.1%, average price US$3,044/MT
SWP not offered
WMP index up 3.1%, average price US$3,306/MT
