A new study by scientists at the American Chemical Society has identified an unlikely new source for raw materials for biodiesel fuels – butter. Researchers report that butter could be used as an eco-friendly feedstock for diesel fuel, a possible new source beyond the current ethanol production. As part of the study, researchers removed the fat from 250kg of butter, and converted it into the fatty acid esters that constitute biodiesel. The result material met all but one of the official test... ...Read more »

New Zealand dairy giant Fonterra is moving its European headquarters from Germany to Amsterdam, as part of a major push to expand its dairy business beyond commodity butter and cheese. The company plans to grow sales of value-added ingredients and food technology solutions to big corporate food makers and the foodservice sector. The company’s Europe technology application centre will also be moved from Hamburg to Amsterdam. just-food is the world’s leading portal for the global pre-packaged... ...Read more »

Murray Goulburn has continued to build its stake in local rival Warrnambool Cheese and Butter Factory. Murray Goulburn, which has had two takeover approaches rejected by the WCB board, has grown its stake in the group from 7% to 8.37% of shares, according to a filing with the Australian stock exchange yesterday (11 March). Murray Goulburn bought 546,722 WCB shares on-market between 3 March and 11 March for A$4.50 (US$4.12) a share. The price was 15 cents higher than the value of Murray Goulburn’s... ...Read more »

Murray Goulburn has built a stake in local rival Warrnambool Cheese and Butter Factory, which has twice rejected takeover bids from the Australian dairy co-op.WCB said on Friday that Murray Goulburn has snapped up “close to a 5% stake” in the business. The shares were bought for A$4.50 (US$4.01) a share, 15 cents higher than the second offer from Murray Goulburn that WCB rebuffed. WCB told its shareholders to “take no action” and insisted it would keep investors of “all... ...Read more »

Australian dairy company Warrnambool Cheese and Butter Factory (WCB) on Friday (19th February) rejected a second bid from rival firm Murray Goulburn. The WCB Board unanimously rejected the revised bid of $4.35 cash per share, which was higher than Murray Gouburn’s earlier bid, which was said to be ‘at or below’ $4 per share. WCB’s stock closed at $4 on the Australian Stock Exchange on Friday, however the WCB Board maintained that Murray Goulburn’s latest offer did “not... ...Read more »

Australian dairy firm Warrnambool Cheese and Butter Factory today (16 February) reported a jump in half-year profits on the back of rising commodity prices.WCB, which has attracted takeover bids from two companies in recent months, said the figures for the six months to the end of December were a “significant improvement” on the year before. EBIT jumped from A$4.6m in the six months of fiscal 2008/09 to A$14.7m (US$13.2m) in the current financial year. WCB made a net profit of A$8.9m,... ...Read more »

After a record 2008 year, The Warrnambool Cheese and Butter Factory are predicting a  decline in 2009 earnings. Substantial slumps in world dairy prices over recent months have been the main contributor to the WCB’s pessimistic outlook. Cheddar prices have fallen as much as 35-40%, with skim milk powder and butter  at 40-45%  and  35-40%. These changing commodity prices reflect a stark contrast to the record high commodity pricesexperienced throughout the 2008 financial year. WCB’s... ...Read more »

While the rising cost of butter is starting to impact on Australians, Japan is just battling to get any. Most grocery stores in Japan have had to resort to posting “sorry – butter unavailable” signs, with the lucky few stores forced to ration the small amount of the product they receive intermittently. The shortage is primarily due to dairy farmers leaving the industry following a lack of demand for milk a couple of years ago, which resulted in a glut and much wastage. Additionally,... ...Read more »