increase font size
Fonterra has lifted its forecast farmgate milk price for the 2013-14 season by 50 cents to $7.50/kgMS.
It has also announced an estimated dividend of 32c/share - amounting to a forecast cash payout of $7.82.
Fonterra chairman John Wilson says the higher forecast farmgate milk price for the new season reflected continuing strong international prices for dairy.
"At the beginning of this season, our forecast was that dairy commodity prices would continue at or near current levels until the fourth quarter of 2013. However, supply constraints in Europe and China during the Northern Hemisphere spring have contributed to an increase in dairy prices of 3% over the past two months. In addition, the NZ dollar has weakened against the US dollar. These factors have contributed to our updated forecast," says Wilson.
Fonterra has also confirmed a further increase to the Advance Rate schedule, paid to farmer suppliers, starting from $5.50/kgMS.
"A higher Advance Rate provides our farmer shareholders a strong start to the season and the opportunity to grow their own farming businesses."
In the past, much has been made of the concept of farm to fork, but an Australian expert in food science and marketing with experience in the dairy industry, Dr Angeline Achariya, says the reverse of this slogan is critical to win modern day consumers.
A four year trial has reaffirmed that mixing plantain into dairy pastures can help reduce nitrogen losses to freshwater while maintaining milk production and profitability, say researchers.
Fonterra has opened its upgraded Chengdu Application Centre, bringing New Zealand dairy expertise closer to customers in one of China's fastest-growing regions.
Tatua chair Stephen Allen says he leaves the co-op with a deep sense of gratitude for the people who have contributed to its success.
Federated Farmers president Colin Hurst and his family raised a glass of milk last week to toast the start of a new addition to their farming operation at Makihihi, south of Timaru.
Testing confirms H5 bird flu in a single northern giant petrel, found dead on a remote Cape Palliser beach in the Wairarapa, says Dr Mary van Andel, the Ministry for Primary Industries' (MPI) Chief Veterinary Officer.
"What's for dinner?" may sound like a simple question, but for many Kiwi parents, answering it has become a job in itself.
Fifty Eight years ago, on the 16th of August 1968, August Claas, the founder of the harvesting company and father of Helmut Claas, personally presented a Claas Senator combine harvester to Scottish farmer John Steven.
New Zealand consumers are paying more for beef mince than ever before, with the average retail price now sitting above $24 per kilogram, according to Rabobank.
State farmer Pamu has delivered its strongest operating result on record.
Four years since it was first detected in New Zealand, researchers and growers now know much more about management of maize pest fall armyworm (FAW).
OPINION: The same mainstream media muppets that brought you Jacindamania in 2017 have been flat out pimping for the Opportunities…
OPINION: Your old mate reckons the atrocious way farmers in the UK are treated by their lords and masters in…
