Fonterra appoints new CFO
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
Fonterra is entering the fresh milk market in China.
The co-op has launched Daily Fresh milk in 14 stores in two major cities – Shanghai and Suzhou.
The milk, sold in 750mL bottles, is sourced directly from Fonterra’s farm hub in Hebei province.
The bottles carry labels matching each day of the week to emphasise freshness, with stock being replenished overnight ready for each new day.
Initial volumes are about three tonnes daily, with plans to scale-up over time and expand with the retailer as it rapidly expends store numbers across China.
Fonterra has partnered with Hema Fresh, Alibaba’s new retail concept which combines bricks-and-mortar and digital shopping.
The president of Fonterra Greater China, Christina Zhu, said the new product meets growing domestic demand for higher-quality fresh products, as part of the ‘premiumisation’ of China’s consumer categories.
“Shoppers here in China are becoming increasingly sophisticated in their tastes and preferences, driven by rising household incomes,” said Zhu.
More bull breeders are using genetic tools according to the latest research.
Females are dominating the veterinary profession worldwide and many farmers are welcoming this change in the composition of the profession, says Britain's Chief Veterinary Officer (CVO) Professor Christine Middlemiss.
A five-year randomised survey of herbicide resistance on New Zealand arable farms has found widespread high levels of resistance - with 71% of farms affected in the worst-hit region - South Canterbury.
OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.
The low unemployment environment is one of the key factors driving on-farm salaries higher over the past 24 months, says Rabobank general manager for country banking Bruce Weir.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.