Fonterra to review payout forecast
Fonterra has said that it will be reviewing its current 2010/11 payout forecast for milk due to a further drop in international dairy prices and a strong New Zealand dollar.The firm said today (4 August) that following its latest global dairy auction, the gDT-TWI index was down 8.3%. This followed a 13.7% decline at the July event.
“Encouragingly, whole milk powder had strengthened slightly for the February to April period,” said CEO Andrew Ferrier. “But the New Zealand dollar was at very high levels.”
Ferrier said that as part of its normal planning process Fonterra is reviewing the current forecast in light of these developments.
“We always said there would be a lot of volatility in the market and we are seeing it. It’s important in this environment to let our farmer-shareholders know as soon as possible if we think there could be any impact on payout,” he said.
just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/
Blackmores and Bega Cheese have reported early success with a business partnership selling infant fo...
The food-manufacturing giant, Kellogg's, has joint forces with Salford Brewery Seven Bro7hers to us...
In the twelve weeks since the Australian Government-ordered COVID-19 shutdowns and restrictions wer...
US supermarket titan Kroger has announced its top food trend predictions for 2019, curated by its Ou...
The European Council and the European Parliament have reached an agreement to update the rules for o...
Separate recent discoveries by scientists have potential to generate or improve fresh water producti...
The article was originally published by ISRAEL21C.org. For the full article, click here. Reducin...
The Coca-Cola Australia Foundation is inviting environmental organisations to apply for a new grant...