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Fonterra chief executive Miles Hurrell.
Fonterra remains on track to return $1 billion to farmer shareholders and unit holders in the 2024 financial year.
Last year the co-operative annlounced four key value targets, including through planned divestments and earnings, returning about $1b in capital to the shareholder base.
To this end, Fonterra flagged the sale of its Soprole consumer business in Chile and a review of ownership of its Australian business.
Fonterra chief executive Miles Hurrell says progress is being made on both fronts.
"Both Soprole and Fonterra Australia as performing well and our priority is to maximise the value of both businesses to the co-op," says Hurrell.
"We will take our time to ensure the best outcomes from these processes and remain confident on delivering on our intention to return around $1 billion of capital to our shareholders and unit holders by F24."
Hurrell says their teams are always looking to drive demand for New Zealand milk by developing new ways of using our products in local cuisine to find the next big food trend.
In Greater China, using the power of social media, the team promoted the idea of mozzarella on dumplings. The dish gained huge attention and sparked a new trend in the lead up to the Lunar New Year, says Hurrell.
"In the Middle East, Fonterra team launched Red Cow - a more affordable range of products we sell direct to customers, such as bakeries, to help us capture a greater share of the foodservice market."
In the past, much has been made of the concept of farm to fork, but an Australian expert in food science and marketing with experience in the dairy industry, Dr Angeline Achariya, says the reverse of this slogan is critical to win modern day consumers.
A four year trial has reaffirmed that mixing plantain into dairy pastures can help reduce nitrogen losses to freshwater while maintaining milk production and profitability, say researchers.
Fonterra has opened its upgraded Chengdu Application Centre, bringing New Zealand dairy expertise closer to customers in one of China's fastest-growing regions.
Tatua chair Stephen Allen says he leaves the co-op with a deep sense of gratitude for the people who have contributed to its success.
Federated Farmers president Colin Hurst and his family raised a glass of milk last week to toast the start of a new addition to their farming operation at Makihihi, south of Timaru.
Testing confirms H5 bird flu in a single northern giant petrel, found dead on a remote Cape Palliser beach in the Wairarapa, says Dr Mary van Andel, the Ministry for Primary Industries' (MPI) Chief Veterinary Officer.
"What's for dinner?" may sound like a simple question, but for many Kiwi parents, answering it has become a job in itself.
Fifty Eight years ago, on the 16th of August 1968, August Claas, the founder of the harvesting company and father of Helmut Claas, personally presented a Claas Senator combine harvester to Scottish farmer John Steven.
New Zealand consumers are paying more for beef mince than ever before, with the average retail price now sitting above $24 per kilogram, according to Rabobank.
State farmer Pamu has delivered its strongest operating result on record.
Four years since it was first detected in New Zealand, researchers and growers now know much more about management of maize pest fall armyworm (FAW).
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