Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
Fonterra has reported a solid half-year result – an 8% lift in profit after tax to $729 million.
The co-op’s operating profit for six months ending January 31, 2025 topped $1.1 billion, up 16% on last year. Earnings per share rose 10% to 44c.
Fonterra chief executive Miles Hurrell says it’s pleasing to be able to deliver these results for farmer shareholders and unit holders.
“We’re focusing on driving value which includes delivering strong financial performance while achieving the highest sustainable farmgate milk price," says Hurrell.
“At the same time, we’re looking ahead as we implement our strategy and continue to invest for the future. We have commenced projects to unlock manufacturing production capacity for our Ingredients and Foodservice channels, with site works now underway at Studholme for high-value protein capacity and at Edendale for a new UHT cream plant.
“We’re also continuing to invest to future proof our operations and supply chain network, with work underway on a new Whareroa coolstore and plans for decarbonisation projects at Clandeboye, Edendale, Edgecumbe and Whareroa to secure energy supply and reduce the co-op’s emissions.
“As we focus on delivering the strongest farmer offering, we have announced new funding for farmers with lower emissions milk and expanded the fixed milk price programme that farmers can use to get more certainty around the farmgate milk price,” says Hurrell.
NZPork has appointed Auckland-based Paul Bucknell as its new chair.
The Government claims to have delivered on its election promise to protect productive farmland from emissions trading scheme (ETS) but red meat farmers aren’t happy.
Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.
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