Green Light for Fonterra's $3.2b Capital Return Scheme
Fonterra farmer shareholders have approved the mechanism for a $2/share capital return expected from the sale of its global consumer and associated businesses.
The codes allow consumers to track and trace ingredients and products electronically throughout Fonterra, from the raw milk source on farm through to retail stores.
Unique to each can, the code connects consumers via a mobile phone app to a web page with information which verifies the authenticity of the product and its batch number. Consumers can also scan their can any time after purchase for an update on the product.
The co-op’s marketing manager Anmum, Teresa Smyth, says as a mother of twins, knowing exactly where the product comes from gives her confidence to buy it and feed it to her children.
“By scanning the QR code to trace the product’s journey, consumers can be assured of quality and safety.”
The co-op’s general manager trust in source, Tim Kirk, says it expects to have total electronic traceability to world-class standards by 2020.
“In attaining total electronic traceability we have broken down the job into achievable steps. By the end of this year, 90% of our plants globally will have traceability data electronically connected, with the remaining 10% to be completed in 2018-19.
The aim is electronic traceability for all milk starting from the supplying farm.
