Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Six of its factories in water-constrained regions will reduce their water use by 30% by 2030 in a bid to accelerate sustainability, says chief operating officer global operations Robert Spurway.
“For some parts of New Zealand, water isn’t always in the right place at the right time,” said Spurway. “This means our water use in these regions can put stress on local water sources and the communities that rely on them.
“Reducing our water use at our manufacturing sites is the right thing to do for the environment and for the communities we operate in.”
The six sites are Maungatoroto, Lichfield, Brightwater, Darfield, Edendale and Clandeboye.
Spurway says the targets will ultimately result in better efficiency and outcomes.
“We’ve focused on the six sites where major water savings can have the greatest impact. This means we can target efforts and investment in regions most in need.”
All other Fonterra sites will take steps to keep water use to FY18 baselines.
“Some initiatives are underway and more are in the pipeline. This target will require clever ideas and creative thinking.”
The co-op also has the following plans:
• No more coal boilers or increasing capacity to burn coal
• Reducing emissions by 30% at all factories by 2030, on the way to net zero by 2050
• Improving the energy intensity of sites by 20% by 2020
• No solid waste to landfills by 2025
• 100% recyclable, reusable and compostable packaging by 2025
• A tailored farm environment plan for every Fonterra farmer by 2025
