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.
Fonterra employees, community representatives, and local iwi celebrated the start of a project with cultural advisor Matu Coleman-Clark blessing the site and project team before the turning of the first sod.
The new UHT plant, which will meet growing demand across Asia is scheduled to begin production in August 2026, initially delivering over 50 million litres of UHT cream annually, with plans to more than double that capacity by 2030. Seventy new roles will be created along with those generated through the construction phase.
General manager operations, Lower South Island, Andrew Johns, shared his enthusiasm with the group at the event, saying that starting construction marks the first chapter in a long-planned project.
“It’s fantastic to see all the planning and hard mahi come together, and we’re eager to watch the build take shape in the coming months. The new plant is a big investment in our future here at Edendale, and we’re looking forward to seeing the positive impact on our community as a whole as construction progresses.”
Around $150 million dollars will be invested in the expansion which is part of the co-operative’s strategy to grow further value by expanding its Foodservice business in and beyond China and increasing production capacity for high-value products.
