Tuesday, 10 March 2020 12:00

Fonterra remains confident in forecast

Written by Pam Tipa

font size decrease font size increase font size
Print
Email

Fonterra is remaining confident in its forecast farmgate milk price range of $7- $7.60/kgMS.

Unlike some other exporters, Fonterra’s scheduling, logistics and delivery activities to all markets are largely operating as normal, the cooperative says.

This is despite the disruption to shipping and supply chains in China caused by the coronavirus update.

“We are keeping a close eye on the situation as it develops,” a spokesperson told Rural News.

“At this time of the year, a high percentage of our FY(full year)20 supply is already contracted. Our sales teams are working with our customers to understand how coronavirus is impacting their businesses, which will give us an idea of how it may impact ours.

“We remain confident in our forecast farmgate milk price range of $7- $7.60/kgMS, and we have no reason to revise our earnings guidance of 15-25c per share.”

Featured

Virtual dairy awards night on national TV

For the first time ever, the New Zealand Dairy Industry Awards will be screened on national television.

Get ready for the ‘now’ norm

Get prepared for a ‘Now Normal’ future, says Ian Proudfoot – Global Head of Agribusiness for KPMG – discussing the likely effects of COVID-19 in the months to come.

Maize stubble fills feed gap

In a normal season, maize stubble wouldn’t be required as a feed on dairy farms.

Northland farmers count the costs

Northland farmers are starting to count the cost of one of the most severe droughts to hit the region as the cost of feed and lower prices for stock are the order of the day.

Times will get better for deer sector

While the deer industry faces several challenges in the short term, there will be a strong rebound in New Zealand venison sales once global demand recovers.