Fonterra has announced a price increase of 20 cents per kilogram (c/kg) of milk solids (i.e. 12c/kg butterfat and 30c/kg of protein) for dairy farmers who supply its manufacturing sites in Victoria and Tasmania.”This increase reflect conditions on global commodity markets, where despite some recent softening in demand, prices continue to be above the US$3,000 per tonne mark,” said Heather Stacy, Fonterra National Milk Services Manager. “We have also seen some modest improvement... ...Read more »
Global dairy giant Fonterra has seen the average price for Whole Milk Powder drop 1.6% via its monthly internet-based sales platform globalDairyTrade - the second consecutive monthly decline after five months of consistent growth. The dairy market remains much stronger than it was this time last year, however. The trading manager, CRA International, advised that the average price achieved across all contracts and contract periods for Whole Milk Powder (WMP) was US$3,256 per tonne FAS. Prices ranged... ...Read more »
Fonterra has announced it will be implementing an $11.5 million investment program to increase cheese and whey powder processing capacity at its dairy manufacturing sites in northern Tasmania.”Fonterra already processes two-thirds of the milk produced in Tasmania. As a result of this investment we will be able to accept more milk from next season and Tasmanian dairy farmers can have confidence in the future of their industry,” Bruce Donnison, Managing Director Ingredients Australia, said. Fonterra’s... ...Read more »
Sales on Fonterra’s internet-based trading platform, globalDairyTrade, have reached $US1 billion over the 19 trading events since launch in July 2008, with the world’s biggest dairy exporter aiming to create a futures market for dairy products. The site, introduced to help Fonterra and its customers manage price exposure in the market, was criticised in its early days, but globalDairyTrade Manager Paul Grave said the criticism had now largely disappeared. “Some commentators credited... ...Read more »
DMV-Fonterra Excipients (DFE), a 50:50 joint venture between Royal FrieslandCampina and Fonterra, has announced the acquisition of Royal FrieslandCampina’s pharmaceutical lactose business and manufacturing unit, FrieslandCampina Domo-Pharma. DFE will buy the FrieslandCampina Domo-Pharma pharmaceutical grade lactose products range for NZ$106 million, with the cost split between the two dairy companies. “This transaction underlines the shared ambition of FrieslandCampina and Fonterra to... ...Read more »
Fonterra last week announced that it has reached a final agreement to purchase the remaining 51% stake in Saudi New Zealand Milk products, a joint-venture dairy manufacturing facility with SADAFCO in Saudi Arabia. The acquisition, worth around NZD45 million, is subject to regulatory approvals in Saudi Arabia. Saudi New Zealand Milk Products (SNZMP) currently packs and processes over 30,000 metric tonnes of New Zealand milk a year for Fonterra and a small number of co-packing customers. The deal will... ...Read more »
Fonterra announced yesterday a price increase of 17 cents per kilogram (c/kg) of milk solids for Victorian and Tasmanian dairy farmers. The price increase will will be backdated to 1 July 2009 and predicts an average annual price for dairy suppliers of $4.06 per kg of milk solids. “This is our third step-up of the season and means Fonterra’s farmgate price is now 46 c/kg higher than at the season opening in July,” said Heather Stacy who is the National Milk Services Manager for Fonterra. The... ...Read more »
China’s dairy sales are starting to recover from the damage done by the melamine scandal last year, Philip Turner, managing director at Fonterra China, has revealed. “Sales were substantially damaged. We’re probably back to where we were in August last year. From now, we expect growth will revert to trend, at about 9-10% per year,” Turner said on the sidelines of a nutrition conference in Beijing this week. Fonterra is the largest exporter of dairy products to China. The company... ...Read more »
Fonterra has seen continued strength in milk prices via their internet-based sales platform, a further sign that the dairy market is recovering. The New Zealand dairy giant concluded its globalDairyTrade December trading event this morning with the average price for Whole Milk Powder up 3.6%. The trading manager, CRA International, advised Fonterra that the average price achieved across all contracts and contract periods for Whole Milk Powder (WMP) was US$3,560 per tonne FAS. This was US$123 per... ...Read more »
Fonterra-owned Mainland Cheese has insured the tastebuds of their leading cheese taster for $10 million.The Chief-of-Cheese at Mainland, Peter Sinclair, has been tasting cheese for a quarter of a century and the company believes his abilities are one of the major factors behind their success. ”I really took a passion to it and I’ve been doing it for 25 years and I wouldn’t be doing anything else,” Mr Sinclair said, according to the ABC. The policy is provided by Lloyd’s... ...Read more »