Fonterra lifts milk price forecast to $10.15/kgMS
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
Fonterra says it will help to cement the cooperative's position as a leader in foodservice.
Director of foodservice Grant Watson says the new brand reflects the way the foodservice team are now doing business.
"We work alongside our customers to bring business and product solutions that answer questions such as improving profitability and reducing waste," Watson says.
"We're helping businesses with all aspects of their operations, from front-of-house presentation, and pricing and promotion, to enhancing yield and taste and delivering exciting new menu options. We do it all."
Watson says it's a significant milestone for Fonterra's foodservice business, highlighting its growth and value to both customer and cooperative. The global foodservice market is growing at a rate of 6% every year.
"We're seeing massive growth worldwide due to the changes in people's diets and daily lives. More and more people are grabbing food on the go or dining out – Anchor Food Professionals will help our customers keep up with this growth. Our aim is to grow at two to three times the market."
By getting to know their customers businesses, Anchor Food Professionals is using this knowledge and optimising dairy ingredients using Fonterra's world leading research and development capability to meet the specific needs of chefs, bakers and restaurant owners.
Fonterra is aiming for its foodservice business to be a $5 billion business by 2023. It will do this by growing ahead of the market in Asia and taking this new model into North and South America.
In China Fonterra has market shares of between 40 and 80 per cent, depending on the product category and half of all pizzas in China have Fonterra cheese on top and more than half of the leading bakery chains in China use Fonterra dairy products.
This market growth is supported by a $250 million investment in manufacturing plant expansions at four Fonterra sites, Te Rapa, Waitoa, Clandeboye and Eltham over the past three years that have doubled the cooperative's foodservice offerings.
Starting in China, Anchor Food Professionals will be rolled out across 60 specialised foodservice products destined for 50,000 customers in more than 50 countries.
