Fonterra appoints new CFO
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
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.
OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.
The low unemployment environment is one of the key factors driving on-farm salaries higher over the past 24 months, says Rabobank general manager for country banking Bruce Weir.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
A seminar on rural dispute resolution has been organised at Lincoln University, Christchurch this month.
The legacy of Dr Peter Snow continues to inspire as the recipients of the 2023 and 2024 Peter Snow Memorial Awards were announced at the recent National Rural Health Conference.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
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