The bosses of major food companies were pressed about increasing their profits as consumers struggled with food affordability. Dairy and agriculture industry reps were also questioned about the impact of inflation on farmers.
Fonterra Co-operative Group Ltd today increased its forecast farmgate milk price and earnings guidance for FY24 after demand from key markets rebounded.
The Canadian Dairy Commission (CDC) won’t adjust the farmgate milk price until later in 2024 in a bid to take some of the ongoing economic pressures off dairy farmers.
The Irish Creamery Milk Suppliers Association (ICMSA) has warned that this year’s milk price cuts would have ‘a very serious impact’ on the wider rural economy in 2023 and into next year.
With recovering cheese prices, US farmers could soon see improved margins after 8 months of declines. In Europe, possible input cost volatility makes the market hard to predict.
After more than six months of price cuts, several dairy co-operatives announced they will hold or raise milk prices, sparking hopes for long-awaited stability for British farmers.
More than a year on from Russia’s invasion of Ukraine, dairy commodity prices have started to recover from the highs experienced in 2022. But as the market adjusts, processors find themselves under increasing pressure to reduce farmgate milk prices.
The two Irish co-ops announced fresh cuts to their farmgate milk prices this week, triggering criticism from the Irish Farmers' Association that price reductions have been ‘immediate and stark’.
The MD of Britain’s largest dairy co-op made the pledge at the 2023 NFU conference, as panelists debated the biggest threats and opportunities for the sector.
Arla Foods amba has confirmed further farmgate milk price increases as farmers continue to grapple with soaring on-farm costs. However, the dairy cooperative also noted that commodity prices are beginning to stabilise.
Five hundred farmers in Tesco’s Sustainable Dairy Group (TSDG) are being encouraged to install 5,000 nesting boxes to support migratory birds like swifts, swallows and house martins.
Cornish clotted cream producer Rodda’s, one of the UK’s largest milk processors, has adapted its pricing model to support farmers at a time of rising on-farm costs.
New Zealand dairy cooperative Fonterra has lowered its 2021/22 farmgate milk price forecast, blaming global crisis that have had ‘short-term impacts’ on global demand for dairy products.
Fonterra Co-operative Group Limited has narrowed its 2020/21 forecast Farmgate Milk Price range, reported a solid start to the 2021 financial year and reconfirmed its forecast earnings guidance.
Fonterra has announced its 2017 annual results, which show revenue up to NZ$19.2bn (US$14bn), but net profit after tax dropped by NZ$745m (US$542m), an 11% reduction.
Fonterra ended the first half of its 2017 financial year with revenue up 5% to NZ9.2bn (US$6.5bn) on the same period last year, and net profit after tax up 2%.
National Farmers’ Union (NFU) Scotland is calling on all Scottish companies purchasing milk to immediately recognize the strength of current dairy markets and return Scotland’s dairy farmers to profitable production.
UK milk processor Robert Wiseman Dairies has confirmed that its
full year results will be in line with analysts' expectations and
has pledged to up its average farmgate milk price for the first
time in over a year, Tom Armitage...
