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.”

More like this

GE release 'will taint NZ's reputation, cost billions'

OPINION: At the September Fonterra results meeting in Waihi, I raised concerns about the viability and risks of releasing GE in New Zealand.

Mixed legacy

OPINION: You're never as good as when you're dead, and with due respect to Theo Spierings' family, the Hound can't let the death of the former Fonterra CEO pass without mentioning the parlous state he left Fonterra in when he exited in 2018 - having pocketed well north of $30 million over seven years.

$500k for chair

OPINION: Fonterra's chair will be paid nearly $500,000 if shareholders approve a proposal by the directors' remuneration committee.

Spierings' chequered stint at Fonterra

Not too many dairy industry leaders were keen to publicly comment on the sudden passing of former Fonterra chief executive Theo Spierings.

So very '90s!

OPINION: In a to the 1990s, our old mates at Greenpeace continued their crusade against affordable food by abseiling down the side of Fonterra’s Te Rapa factory and unfurling a big banner.

Featured

Upcoming farmer meetings with PM 'to boost confidence'

Prime Minister Christopher Luxon will be fronting farmers at three large public meetings organised by Federated Farmers over the coming weeks.

Feds, Westpac butt heads over emissions reduction targets

Federated Farmers and a major Australian-owned bank are at loggerheads over emissions reduction targets set for New Zealand farmer clients.

Kiwi-grown tomatoes flocking to stores

More locally grown tomatoes are coming to stores this month and you can thank New Zealand greenhouses for that.

New ag degrees at Massey

Changing skill demands and new job opportunities in the primary sector have prompted Massey University to create a new degree course and add a significant major into another in 2025.

The show is on!

It was bringing in a new Canterbury A&P Association (CAPA) show board, more in tune with the CAPA general committee, that has ensured that Christchurch will have a show this year, says CAPA general committee president Bryce Murray.

Editorial: Pipfruit success

OPINION: Hats off to our pipfruit sector.

National

National catchment advocacy group elects first chair

A North Canterbury farmer has been elected as the first chair of Aotearoa New Zealand Catchment Communities (ANZCC).

New tricks from food science at international conference

Can discarded beef skins become premium dog food? Would camel milk work for your morning flat white? These are just…

Food charity to hold online auction

Meat the Need, New Zealand’s dedicated charity delivering locally sourced protein meals to food-insecure communities, is launching an online National…