US remains important market - Fonterra
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
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.”
Federated Farmers supports a review of the current genetic technology legislation but insists that a farmer’s right to either choose or reject it must be protected.
New Zealand’s top business leaders are urging the US Administration to review “unjustified and discriminatory tariffs” imposed on Kiwi exporters.
New tariffs imposed by President Donald Trump signal an uncertain future, but New Zealand farmers know how to adapt to changing conditions, says Auriga Martin, chief executive of Farm Focus.
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
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Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
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