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

New UHT plant construction starts

Construction is underway at Fonterra’s new UHT cream plant at Edendale, Southland following a groundbreaking ceremony recently.

Opportunity for more integration crucial - DairyNZ

DairyNZ says a more integrated and sustainably-funded biosecurity system is needed as part of changes to the Biosecurity Act 1993.

Synlait lifts milk price to $10

Canterbury milk processor Synlait Milk has lifted its forecast base milk price for the season by 50c to $10/kgMS.

Fonterra's $64m investment to cut emissions by 9%

Fonterra is set to convert two coal boilers to wood pellets at its Clandeboye site in South Canterbury, a crucial step in Fonterra's commitment to exit coal by 2037.

Chilled milk partnership

Last month marked one year since the launch of an innovative collaboration known as the PAUS Programme (Pay- As-You-Save), which has made it easier for Fonterra farmers to access next generation milk chilling technology.

Featured

NZ National Lamb Day names FMG and Rabobank as 2025 partners

National Lamb Day, the annual celebration honouring New Zealand’s history of lamb production, could see a boost in 2025 as rural insurer FMG and Rabobank sign on as principal partners.

'Female warriors' to talk ag sector opportunities

The East Coast Farming Expo is playing host to a quad of ‘female warriors’ (wahine toa) who will give an in-depth insight into the opportunities and successes the primary industries offer women.

New Zealand Food Safety shares food safety tips

New Zealand Food Safety (NZFS) is sharing simple food safety tips for Kiwis to follow over the summer.

Dairy-beef offering potential for savings

Beef produced from cattle from New Zealand's dairy sector could provide reductions in greenhouse gas emissions of up to 48, compared to the average for beef cattle, a new study by AgResearch has found.

Dairy buoyant

The Rabobank Rural Confidence Survey found farmers' expectations for their own business operations had also improved, with the net reading on this measure lifting to +37% from +19% previously.

Farmer confidence flowing back

Confidence is flowing back into the farming sector on the back of higher dairy and meat prices, easing interest rates and a more farmer-friendly regulatory environment.