Displaying items by tag: Fonterra

Fonterra surprised observers last week by announcing an early upgrade of its milk price; the GlobalDairyTrade (GDT) price index lift of just 1.7% was lower than expected, says ASB’s senior rural economist Nathan Penny.

Fonterra is in “pole position” compared to its competitors after a tremendous transformation, says chief executive Theo Spierings.

Fonterra’s annual results announcement will increase certainty and security for dairy farmers, in what has been a positive week for the industry, say the Feds.

Fonterra has increased its after tax profit by 65% to $834 million for the year ended July 31, 2016.

Fonterra’s recording of its highest ever EBIT, which resulted in Fonterra Farmers receiving a 60% increase on the earning per share received last season, was a positive result in an otherwise challenging environment.

Fonterra Cooperative Group Ltd increased its 2016/17 forecast farmgate milk price by 50 cents to $5.25/kgMS.

In another sign the dairy industry is rebounding, milk processors are increasing their forecast price for the season.

Fonterra has confirmed all staff members at its Edendale milk processing plant are safe following the collapse of a raw milk silo on Friday afternoon.

Food Safety Minister Jo Goodhew has welcomed the opening of the Fonterra Ying Hub in Ying County, Shuozhou City, Shanxi Province, China.

The first litres of Waikato-farmed milk are flowing through Fonterra’s newest high-efficiency milk powder plant, as the world’s joint-largest dryer comes online in the South Waikato.