Cut with care
OPINION: The new government has clearly signalled big cuts across the public service.
Fonterra has responded to recent jumps in global dairy prices and lower domestic milk collection by lifting its forecast milk price mid-point by 50c/kgMS.
Fonterra farmers will receive an advance rate of $5.10/kgMS for milk supplied over the next four months.
Fonterra says it will announce an on-farm emissions target (Scope 3 target) by the end of this year.
Fonterra has announced a final 2022-23 season farmgate milk price of $8.22/kgMS and a full-year dividend of 50c.
Farmers are being told to expect tight times ahead as the projected milk price was revised to a new mid-point range of $7 following the Global Dairy Trade (GDT) auction earlier this month.
Fonterra is splashing out $700 million to improve its manufacturing operations and supply chain emissions footprint.
Fonterra is upping its game in nutrition science, announcing a new corporate ventures arm and a US$10 million investment in US biotech company Pendulum.
OPINION: The new government has clearly signalled big cuts across the public service.
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