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.
Pradhan will be responsible for driving growth and exploring new opportunities for Fonterra in Myanmar. This appointment follows the reshaping of Fonterra's business to deliver on its Group strategy refresh, announced in March this year.
It is the first time Fonterra has employed its own Myanmar-based staff. Pradhan will be based in Yangon from 2013.
Fonterra ASEAN/MENA managing director, Mark Wilson, says Pradhan's appointment will allow Fonterra to gain a better understanding of the opportunity in Myanmar for nutritional dairy.
"Myanmar has a population of around 56 million people and dairy consumption per capita is expected to increase as people in Myanmar increasingly look for high quality nutrition that supports the health of their families.[1]
"In addition, Myanmar's tourism sector is growing fast with increased investment and developing infrastructure across the country. This is driving demand for high quality foodservice products from hotels and restaurants.
"Fonterra has already established a fast-growing consumer business, through distributor relationships, which has more than doubled over the last year. We are now looking to build on this presence further with dedicated leadership for this fast growing dairy market.
"Pradhan has six years in the dairy industry and a deep understanding of our business. He is well placed to guide Fonterra in Myanmar as we explore opportunities in the country," says Wilson.
Pradhan joined Fonterra Cooperative Group in New Zealand as a strategy manager in 2007, and relocated to Singapore in 2009 in the role of performance and process improvement manager. Most recently, Pradhan held the role of growth and performance manager where he led a significant project to grow the capability of Fonterra's foodservice business across Asia and the Middle East.
Pradhan says: "Fonterra has been supplying high quality New Zealand dairy to Myanmar for the past six years. During this time we have established relationships with a number of key customers and industry partners.
"Our priority is to further build the supply of high quality dairy nutrition to Myanmar and explore new opportunities to expand the brands we offer in this fast growing dairy market."
Fonterra started selling leading high-calcium milk brand, Anlene, through a local distributor to retail outlets and pharmacies in 2011. It launched the Anlene Bone Health Check (pictured) the same year and has scanned more than 50,000 Burmese people to date.
Fonterra also supplies a wide range of quality cheeses, creams, butter, and milk to bakeries, restaurants, and hotels across the country.
