$10 milk price still on
Whole milk powder prices on Global Dairy Trade (GDT) remains above long run averages and a $10/kgMS milk price for the season remains on the card, says ASB senior economist Chris Tennent-Brown.
Fonterra says it remains on track to meet its climate targets and be coal free in its North Island manufacturing.
Last month, the cooperative turned off the coal boiler at its Waitoa site, marking a significant milestone in achieving its emissions reduction targets outlined in its Climate Roadmap released in November 2023.
Fonterra director of sustainability Charlotte Rutherford says the Climate Roadmap is central to guiding Fonterra’s journey toward achieving its near-term climate targets and ambition to be net zero by 2050.
“We’ve made a great start. While progress may not be linear, we are on track to meet these targets. I’m particularly proud of the work the team has done to achieve SBTi validation, the progress in providing tools and services for farmers, and the efforts of decarbonising our manufacturing sites,” says Rutherford.
“While it may be one year on from the release of our Roadmap, we have been focused on reducing our emissions, particularly from our manufacturing and operations, for some time now and being free of coal in our North Island manufacturing is something the team should be proud of.”
This year alone, three renewable energy projects at Edendale, Hautapu, and Clandeboye have reduced emissions by a total of 62,500 tonnes, equivalent to taking 27,750 cars off the road.
Rutherford says just as important has been the work over the past year to lay the foundations to support farmers in reducing their emissions.
“Reducing emissions through driving greater on-farm efficiencies is also a priority for the co-op. Our approach is about empowering farmers with tools, insights and support to make meaningful changes.
“Over the past 12 months our farmer facing teams have been working on a range of tools and services for farmers, including targeted conversations to understand what the future may look like, and mapping tools that will help identify woody vegetation for carbon sequestration.
“As we move closer to 2030 we will begin to see the impact of these tools and services in the results. We know there’s more work to be done, and right across the value chain we continue to invest in innovative technologies and solutions that will set us up for success.”
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