increase font size
Judith Swales.
Fonterra has taken a stake in Motif Ingredients, a US-based food ingredients company developing plant-based or cell-grown animal products, including milk.
Fonterra joins Ginkgo Bioworks, Breakthrough Energy Ventures, Louis Dreyfus Companies and Viking Global Investors.
Judith Swales, head of Fonterra’s global consumer and foodservice business, says the move is part of the cooperative’s commitment to its farmer-owners to stay at the forefront of innovation to understand and meet the changing preferences of consumers. While the terms will not be disclosed, Fonterra’s investment represents a minority stake in the business.
“Farmers expect their co-op to get the most value from every drop of their milk and also keep an eye on tomorrow to futureproof their co-op for generations to come.
“Dairy nutrition will always be at our core, but we also want to explore how we can capture more value from new types of nutrition.
“The complementary nutrition category – where plant, insect, algae and fermentation-produced nutrition co-exist alongside animal proteins, including cows’ milk – is fast evolving. It’s not a case of either/or, but both,” says Swales.
“If we fast forward 30 years, there’ll be two billion more mouths to feed and there simply won’t be enough food to go around just using today’s methods. A combination of traditional and complementary nutrition sources will be required to meet the world’s increasing need for food, especially protein.
“Consumers around the world will continue to want natural, grass fed dairy as a premium source of nutrition. At the same time, we recognise that no two consumers are the same. As diets and preferences continue to evolve, we want to be there, providing people with choices.
“Our stake in Motif will help us be part of this emerging next-generation fermentation-produced nutrition sector,” says Swales.
Motif has been established by Ginkgo Bioworks, one of the world’s leading organism companies. Using a process similar to how insulin, vitamins and beer are made, Motif’s team of biotech experts will use genetic science and fermentation technology to re-create and sell animal proteins and food ingredients, including those similar to dairy ingredients.
Jonathan McIntyre, Motif Ingredients’ CEO, says “Through biotechnology and fermentation, Motif will propel the next food revolution with affordable, sustainable and accessible ingredients that meet the standards of chefs, food developers, and visionary brands.”
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
OPINION: Sydney has a $12 million milk disposal problem.
OPINION: Canterbury milk processor Synlait's recovery seems to have hit another snag.
