New Zealand dairy co-operative Fonterra has today reported a net profit after tax of NZ$293 million, or 21c per share, for the six months to 31 January 2011, marking the first time Fonterra has reported a profit for the half year. The dairy co-operative said strong international dairy markets were supporting 2010/11 results, which they said is shaping up as one of Fonterra’s best years ever in terms of returns to its farmer shareholders. Announcing the Co-operative’s financial results for the... ...Read more »

Fonterra, the world’s number on dairy exporter, has decided to open up its globalDairyTrade auction site to allow other processors to sell dairy products on the platform.The New Zealand-based company, which launched the site in 2008, said dairy companies including Arla Foods and FrieslandCampina had helped develop a “draft set of market rules” to allow more than one seller to use the platform. However, so far, no other company has decided to join Fonterra on the site. Fonterra is... ...Read more »

Fonterra’s chief executive Andrew Ferrier has signalled his intention to step down from the post in the second half of this year.The New Zealand dairy giant revealed yesterday that after eight years as CEO Ferrier wants to exit the business by the end of the year. However, the company said that he will remain in place until a successor is found. “It is possible that we will have identified a suitable candidate by the second half of this year but Andrew is committed to continuing in his... ...Read more »

New Zealand dairy giant Fonterra has installed five large milk vats in Christchurch, which will be filled with fresh water by the company’s tankers, for use while the city’s earthquake-shattered water infrastructure is repaired. CEO Andrew Ferrier says the vats will be installed in locations around the city as recommended by Civil Defence. “Having these vats will give more people access to the water they desperately need. We will have a tanker on stand-by to re-fill the vats as the... ...Read more »

The ‘best of the best’ Australian dairy products received their crowning glory at Wednesday’s 2011 Australian Grand Dairy Awards (AGDA), with 19 Champions and two Grand Champions awarded in front of members and supporters of the country’s dairy industry. Themed a ‘salute to migrant Australia’, the awards celebrated the contribution and dedication of Australian immigrants to the dairy industry. Dairy Australia Managing Director Ian Halliday said this year’s awards... ...Read more »

Fonterra today announced details of a comprehensive support package to help flood-affected dairy farmers in northern Victoria, including a $50,000 donation to the Victorian Farmers Federation Disaster Relief Fund.”We have been carefully monitoring the flood situation in northern Victoria and staying in close contact with our farmer suppliers and manufacturing site personnel in affected regions,” said Heather Stacy, National Milk Services Manager. The floods have caused some challenges... ...Read more »

Fonterra announced today that it will increase its farmgate milk pirices for Victorian and Tasmanian farmer suppliers after a pricing review. The company will now offer farmers a further 8c per kg of fat, and 20c per kg of protein (13c per kg of milk solids). Fonterra’s National Milk Services Manager, Heather Stacy, said the increase reflects conditions in global dairy commodity markets where prices have held and then strengthened during December and January. “Whole milk powder is now trading... ...Read more »

Fonterra said today it is advising international customers of the potential need to identify the dairy content of foods containing specialised dairy proteins, following the publication of a new academic study.Fonterra produces specialised dairy proteins used as ingredients by international food companies. Fonterra Chief Technology Officer, Jeremy Hill, said it is obvious that certain foods contain dairy – such as milk, cheese and yoghurt. However, increasingly companies are using dairy-based... ...Read more »

Fonterra has announced an increase in its forecast Milk Price for the 2010/11 season from $6.60 to $6.90 per kilogram of milksolids (kgMS). Fonterra Chairman Sir Henry van der Heyden said the Board’s decision to raise the forecast Milk Price reflected the continuation of high international dairy prices further into the 2010/11 season. Chief executive Andrew Ferrier said global markets for key dairy ingredients remained finely balanced, with solid demand being underpinned by some growth in supply... ...Read more »

Milk producers Harvey Fresh and New Zealand dairy giant Fonterra have moved to take up extra milk, after farmers supplying the Challenge Dairy Co-operative were told they should find new purchasers for their product. Harvey Fresh moved quickly to offer contracts to a number of Challenge suppliers, and Fonterra has now advised it will offer contracts to all remaining dairy farmers that have yet to sign new contracts with Harvey Fresh or National Foods. Agriculture and Food Minister Terry Redman welcomed... ...Read more »