Friday, 23 August 2013 15:39

New GDT sales record

Written by Sudesh Kissun

font size decrease font size increase font size
Print
Email

At last, some positive news from Fonterra.

The co-op today confirmed that it has achieved record sales and revenues from its two August GlobalDairyTrade (GDT) auctions.

Fonterra achieved its highest-ever monthly revenue through GDT in August, selling 109,664 metric tonnes, worth $685 million.

Chief executive, Theo Spierings,says the past two GDT events show continued confidence in its products and strong demand from many of the key markets.

"Our August GDT sales volume was up 27% on the same time last year, and revenue more than doubled, up 107%."

The co-op is facing a government inquiry over its handling of the recent botulism scare involving whey protein concentrate (WPC80). It is also facing trade bans in several key markets around the world, including China.

Commenting on Fonterra's current forecast for a 15% decline in its product volumes on GDT over the next 12 months, Spierings says that this reflects Fonterra's strategy of moving from being commodities-driven to a more value-added, higher-margin products business.

More like this

Fonterra’s Pierre Venter named next vice chancellor of Massey University

The head of Fonterra's R&D facility in Palmerston North is set to literally cross the road and become the new vice chancellor at Massey University.

Pamu backs Fonterra’s $4.22B divestment as shareholders deliver strong ‘yes’ vote

One of Fonterra's largest milk suppliers says Fonterra's board and management have got what they wanted - a great turnout and a positive signal from shareholders on the sale of its co-operative's consumer and related business.

Winston Peters calls Fonterra vote result 'utter madness'

New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.

Winston's crusade

OPINION: A short-term sugar hit. That's what NZ First leader Winston Peters is calling the proposed sale of Fonterra's consumer and associated businesses.

Fonterra executive named new Massey University vice chancellor

When Professor Pierre Venter takes up his new role as vice chancellor at Massey University next February it will just be a matter of taking a few steps across the road to get to his new office at the Palmerston North Campus.

Featured

AgriSIMA 2026 Paris machinery show cancelled

With the current situation in the European farm machinery market being described as difficult at best, it’s perhaps no surprise that the upcoming AgriSIMA 2026 agricultural machinery exhibition, scheduled for February 2026 at Paris-Nord Villepinte, has been cancelled.

MIA showcases refreshed Taste Pure Nature brand with Shanghai pop-up experience

The Meat Industry Association of New Zealand (MIA) has launched the first in-market activation of the refreshed Taste Pure Nature country-of-origin brand with an exclusive pop-up restaurant experience in Shanghai.

Cricket memorabilia up for auction for youth mental health

Jayna Wadsworth, daughter of the late New Zealand wicketkeeper Ken Wadsworth, has launched an auction of cricket memorabilia to raise funds for I Am Hope's youth mental health work.

NZ tractor sales show signs of recovery – TAMA

As we move into the 2025/26 growing season, the Tractor and Machinery Association (TAMA) reports that the third quarter results for the year to date is showing that the stagnated tractor market of the last 18 months is showing signs of recovery.

Dairy farmers urged to participate in 2026 Levy vote

DairyNZ chair Tracy Brown is urging dairy farmers to participate in the 2026 Levy vote, to be held early next year.

B+LNZ calls for director nominations for 2026 annual meeting

Beef + Lamb New Zealand (B+LNZ) is calling for nominations for director roles in the Eastern North Island and Southern South Island electoral districts.