New Zealand dairy cooperative Fonterra has announced its FY18 annual results, the plan to improve its business performance and the outlook for FY19, including a review of its investment with Chinese company Beingmate.
New Zealand’s Fonterra Co-operative Group Limited has revised its 2018/19 forecast Farmgate Milk Price from NZ$7.00 (US$4.66) per kgMS to NZ$6.75 (US$4.49) per kgMS.
Fonterra’s new cream cheese plant has started production and is set to manufacture up to 24,000 metric tonnes of cream cheese annually for the Chinese market.
Fonterra Co-operative Group has announced Miles Hurrell will take over as the New Zealand cooperative’s interim chief executive with immediate effect, and the search for a new CEO will temporarily be halted.
Fonterra Co-operative Group Limited has revised its forecast 2017/18 Farmgate Milk Price, and updated its normalized earnings per share and dividend guidance.
Fonterra has announced a joint venture partnership with one of India’s largest consumer companies, Future Consumer Ltd, to produce a range of consumer and foodservice dairy products for the Indian market.
New Zealand’s Fonterra Co-operative Group Ltd has announced that John Wilson has stood down from his position as chairman with immediate effect as he recovers from a recent serious health scare.
Dairy price recovery in 2017 has positively affected the combined turnover of the top 20 companies, which, in 2017, was up 7.2% on the year in US dollar terms, according to RaboResearch’s latest report, ‘Global Dairy Top 20 – A Shuffling of the Deck Chairs.’
New Zealand’s Fonterra Co-operative Group said it welcomes the appointment of Bao Xiufei to the role of general manager of Beingmate Baby & Child Food Co Ltd. Fonterra has an 18.8% share in the Chinese food company.
A just-published Greenpeace investigation alleges that New Zealand dairy giant Fonterra Cooperative Group’s key supplier of palm kernel extract (PKE) has links to a huge expanse of deforestation in Indonesia.
Fonterra Australia and Bellamy’s Organic Pty Limited have strengthened their strategic partnership by signing a long-term supply agreement for the recruitment and supply of organic milk in Tasmania.
New Zealand dairy cooperative Fonterra is adding a new channel to its global foodservice business – Beverage House – to capitalize on what it says is an increased global demand for ‘adventurous’ tea and coffee drinks.
