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

Editorial: Red, Green or Orange?

OPINION: As election day looms, rural NZ seems to have pressed the pause button – held somewhat in limbo on an orange light.

Can Drones Destroy Hornet Nests?

Will drones be the answer to tackling the problem of wasp and hornet nests high up in trees and other inaccessible places?

New Synlait CEO Leon Fung Commits to Christchurch Move

Canterbury milk processor Synlait has come through tough times and is now ready to scale up from a stable base, says its newly confirmed CEO Leon Fung.

Order Early, Check the Label: NZPork’s Christmas Ham Advice

NZPork says a ham made in New Zealand is not necessarily made from New Zealand pork.

Tractor Weight Rules NZ: Contractors Welcome Reform

Rural Contractors NZ says proposed changes to land transport rules for agricultural vehicles are a welcome response by the Government to out-of-date regulations which have seen members hit with huge fines.

NZ Methane Rules: Can Biozest Cut Emissions Without Culls?

With New Zealand’s greenhouse gas emissions in the spotlight, Auckland scientist Nathan Balasingham says there’s a better way to tackle the problem than shrinking cow numbers or fertiliser usage.

National

MIA Chief Executive Nick Beeby on Meat Industry Challenges and Cooperation

Meat Industry Association chief executive Nick Beeby says there’s now much closer cooperation between meat processing companies than there was…

Hectre Opens Auckland Lab for Hyperspectral Fruit Research

A new fruit quality research laboratory has been opened in Auckland by agritech company Hectre to develop pioneering hyperspectral technology.

Groundswell on Freshwater Rules, Paris Agreement and AgriZeroNZ

Farmer lobby Groundswell believes that farmers are worried about the implications of a potential centre-left government.

Federated Farmers Urges Farmers to Vote on November 7

With less than a week to go before voters choose the next government, Federated Farmers has a simple message to…

Year 11 Agriculture and Horticultural Science to Go Standalone

Students will be able to study Agriculture and Horticultural Science from Year 11, creating a clear pathway into Years 12…

Machinery & Products

Massey Ferguson to Add Compact Tractors in ITL partnership

Massey Ferguson has announced a strategic supply partnership with International Tractors Limited (ITL), a manufacturer of low-horsepower and compact tractors,…