Fonterra's record forecast organic milk price
Fonterra has announced a record forecast opening organic milk price of $12.30/kgMS for the new season.
Fonterra says it’s keeping a close eye on the coronavirus outbreak in China, the co-op’s key export market.
While Fonterra’s operations haven’t been impacted, the co-op is wary.
A spokesperson says if there was a sustained drop in consumption in China, like fewer people eating in restaurants, then that could have an impact on sales.
“We’ll be watching GDT results and our Foodservice business over the coming month to get an indication,” she says.
Chinese officials have confirmed over 7,700 cases of the mysterious illness as foreign governments, including New Zealand, are airlifting their citizens out of Wuhan, the outbreak’s epicenter.
Some parts of China including Wuhan have movement restrictions in place.
China is Fonterra’s key market: it has a $4billion revenue business there and now accounted for 40% of dairy imports into mainland China.
The co-op also operates farming hubs in China, milking over 30,000 cows.
Around 11% of all dairy consumption in China comes from Fonterra. The co-op has 1700 employees in Greater China.
Fonterra says it has extended the Chinese New Year holiday for its employees, in line with the Chinese government’s decision.
“We have also tracked and contacted all employees who have been travelling over the New Year period and they are safe and well.
“As a precaution, we have restricted work-related travel to and from China and we’re asking employees who have recently returned from China to self-isolate for a period of 14 days.”
The CEO of Apples and Pears NZ, Karen Morrish, says the strategic focus of her organisation is to improve grower returns.
A significant breakthrough in understanding facial eczema (FE) in livestock brings New Zealand closer to reducing the disease’s devastating impact on farmers, animals, and rural communities.
Farmer co-operative LIC has closed its satellite-backed pasture measurement platform – Space.
OPINION: The case of four Canterbury high country stations facing costly and complex consent hearing processes highlights the dilemma facing the farming sector as the country transitions into a replacement for the Resource Management Act (RMA).
The 2024-25 season apple harvest has “well and truly exceeded expectations”, says Apples and Pears NZ chief executive Karen Morrish.
Through collaborative efforts with exhibitors, visitors, and industry partners, Fieldays says it is reaffirming its commitment to environmental responsibility with new initiatives for 2025.
OPINION: The Greens aren’t serious people when it comes to the economy, so let’s not spend too much on their…
OPINION: PM Chris Luxon is getting pinged lately for rolling out the old 'we're still a new government' line when…