Make it 1000%!
OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of 125% on the US, up from the 84% announced earlier.
The a2 Milk Company (a2MC) says securing more China label registrations and developing its own nutritional manufacturing capability are high on its agenda.
The listed company, which relies on Synlait for its A2 infant formula supply, resolved a long-running dispute with the milk processor in August: it continues to hold a 19% stake in Synlait.
Speaking at a2MC’s annual meeting today, chair Pip Greenwood noted that more Chinese label registrations and own processing plant were critical components of the company’s supply chain transformation strategy.
“The Company continues to explore opportunities to achieve this through investment in its own supply chain and through acquisitions and commercial partnerships.
“While we do not have any new information to share with you today, I can say that we continue to make good progress in this regard and that this remains a top priority for management and the board.”
Greenwood told shareholders that the 2024 financial year was a milestone year for its China label product, following re-registration in June 2023 of its upgraded China label infant milk formula product.
“Given the positive signs we have seen including strong consumer offtake and healthy metrics, we are pleased that the transition has been successful.
“As a proud New Zealand company, we are delighted that in our largest market China, our consumers continue to highly value the A1 protein free proposition and our products’ New Zealand provenance.
“Being the pioneer of A1 protein free helps us differentiate our products in a competitive market. It is especially pleasing that in FY24 we achieved a top 5 brand position in the China infant milk formula market with our China and English label products combined.”
The company is also progressing an application for long-term US Food and Drug Administration approval to import infant milk formula into the US.
Australian dairy farmers supplying Fonterra are getting an opening weighted average milk price of A$8.60/kgMS for the new season or around NZ$9.26/kgMS - NZ74c less than New Zealand suppliers, based on the current exchange rate.
Taranaki veterinarian Dr Rob Mills is the new president of New Zealand Veterinary Association (NZVA).
Input costs can make or break a season for farmers and electricity is one of the largest expenses.
Zespri says global sales for the 2024-25 season topped $5 billion on the back of strong demand and market returns.
Massey University is returning to the Fieldays with a future-focused, solution-driven theme, showcasing research that delivers practical advancements in agricultural efficiency, sustainability and longevity.
Newly appointed National Fieldays chief executive Richard Lindroos says his team is ready, excited and looking forward to delivering the four-day event next month.
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OPINION: The ongoing saga of the quality of school lunches continues.