Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
Fonterra's 2014-15 forecast payout remains unchanged at $4.70/kgMS.
Along with the previously announced estimated dividend range, this amounts to a forecast cash payout of $4.95 – $5.05 for the current season. The co-op reviewed its forecast payout this morning.
Chairman John Wilson says that although dairy commodity prices had gone up, the increase was not sufficient to raise the forecast Farmgate Milk Price at this time.
"Since December, GDT prices for Whole Milk Powder have increased 45 per cent and Skim Milk Powder prices have increased 13%," says Wilson.
"There continues to be significant volatility in international commodity prices. New Zealand volumes are down, with continued uncertainty in milk production due to climatic conditions in New Zealand with droughts in Canterbury, Marlborough, Central Otago and North Otago.
"Today's forecast reflects the Board and management's best estimates at this time. We are advising farmers to continue to be cautious with budgeting and we will update them as the season progresses."
Chief executive Theo Spierings says Fonterra was sticking to its strategy, with confidence in the long-term fundamentals of dairy demand.
"We will provide a full business update when we report our Interim Result on 25 March," Spierings says.
Fonterra is required to consider its forecast Farmgate Milk Price every quarter as a condition of the Dairy Industry Restructuring Act (DIRA).
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
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An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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