Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
From today, a Trusted Goodness quality seal will begin to appear on Fonterra-branded products around the world. In New Zealand it will first appear on 1L and 2L bottles of Anchor fresh milk.
Fonterra’s chief operating officer, global consumer and foodservice Jacqueline Chow, says that market research commissioned by Fonterra shows global consumers are prepared to pay a premium for high quality, safe and healthy food from trusted sources.
“Consumers want to know more about where their food comes from and that it is produced by businesses using sustainable and ethical practices. Consumers are actively seeking out products they can trust to feed their families and that come with these benefits.
“Fonterra’s farmers have invested more than $1 billion into environmental initiatives over the last five years. They’ve fenced 97 per cent of defined waterways on their farms, developed nitrogen management systems to reduce leaching, and spent more than $8 million on research into emissions reducing technologies.
“All of their good work on-farm, combined with New Zealand’s natural, grass-fed advantage, the cooperative’s focus on traceability, food safety and quality supported by Fonterra’s farmers and employees has helped to build credibility behind the Trusted Goodness™ seal,” says Chow.
Outside of New Zealand, the quality seal will initially feature on packs of Fonterra-branded products in the US, China and Malaysia as part of a global roll-out over the coming months. It is expected to appear on the vast majority of Fonterra products over the coming years.
“Our purpose is to be the world’s most trusted source of dairy nutrition. Trusted Goodness™ will help to tell our New Zealand quality story and access more value for our farmer shareholders,” Chow says.
