Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
Fonterra’s opening forecast milk price range for the 2022-23 season is set at $8.25 - $9.75/kgMS, with a midpoint of $9/kgMS.
Chief executive Miles Hurrell says the strong opening forecast reflects continued demand for dairy coupled with constrained global supply.
“The long-term outlook for dairy remains positive, despite recent geopolitical and COVID-19 related events impacting global demand in the short-term,” he says.
On the supply side, growth from key milk producing regions is expected to remain constrained as high feed, fertiliser and energy costs continue to impact production volumes.
“These demand and supply dynamics are expected to support dairy prices in the medium to long-term,” says Hurrell.
“However, we are operating in an increasingly volatile global environment and are managing a wider range of risks than usual.
“This includes the potential for further impacts from COVID-19, financial markets and foreign exchange volatility, global inflationary pressures, a tightening labour market, increasing interest rates, geopolitical events, as well as the possible impact on demand from higher dairy prices.
“This is why our 2022/23 forecast range is so wide at this point in the season.”
For the 2021-22 season, which ends on May 31, Fonterra has maintained its Farmgate Milk Price range of $9.10 - $9.50/kgMS.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
Tributes are pouring in from across the political divide for former Prime Minister Jim Bolger who passed away, aged 90.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
Agri advisor Perrin Ag says its graduate recruitment programme continues to bring new talent into the agricultural sector.
Entries are open for the 2026 New Zealand Dairy Industry Awards (NZDIA).
OPINION: Ageing lefty Chris Trotter reckons that the decision to delay recognition of Palestinian statehood is more than just a fit…
OPINION: A mate of yours truly recently met someone at a BBQ who works at a big consulting firm who spent…