New UHT plant construction starts
Construction is underway at Fonterra’s new UHT cream plant at Edendale, Southland following a groundbreaking ceremony recently.
Fonterra has announced an opening forecast Farmgate Milk Price of $7/kgMS for the 2018/19 season starting June 1.
Chairman John Wilson says the strong opening milk price would be very welcome news for the cooperative’s farmers as they look ahead to the new season.
“What we are seeing is a continued positive global supply and demand picture which gives us the confidence to increase our current forecast Farmgate Milk Price into the new season.
“Demand is expected to remain strong – especially from China and for butter and AMF. We are expecting the global dairy market’s current prices, especially for fats, to continue throughout the new season.”
Fonterra is forecasting New Zealand 2018-19 milk collections to be 1,525 million kgMS, a 1.5% increase on current forecast for this season.
The co-op expects to see a lift in supply from the EU, US, Australia and Argentina, says Wilson.
“We will announce our forecast earnings per share for the 2019 financial year in July as normal. This, along with our forecast Farmgate Milk Price, comprises the total available for payout to our farmers.”
Fonterra is required under the Dairy Industry Restructuring Act to announce its forecast Milk Price at the beginning of each season, which starts on 1 June.
Later this month, Ardgour Valley Orchards apricots will burst onto the world stage and domestic supermarket shelves under the Temptation Valley brand.
Animal rights protest group PETA is calling for Agriculture Minister Todd McClay to introduce legislation which would make it mandatory to have live-streaming web cameras in all New Zealand shearing shed.
ACT MP and farmer Mark Cameron is calling on Parliament to thank farmers by reinstating provisions within the Resource Management Act that prevent regional councils from factoring climate change into their planning.
Fire and Emergency New Zealand (FENZ) has declared restricted fire seasons for the Waikato, Northland and Canterbury.
The first Global Dairy Trade (GDT) auction drew mixed results, with drop in powder prices and lift in butter and cheeses.
ACT Party conservation spokesperson Cameron Luxton is calling for legislation that would ensure hunters and fishers have representation on the Conservation Authority.
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