A stronger US dollar had a negative impact on this week’s Fonterra dairy auction, forcing down the Global Dairy Trade – Trade Weighted Index (GDT-TWI) by 2.1%. Relief from the late season drought is also cited as a reason for the fall.
A former head of Greenpeace International, Paul Gilding is coming to New Zealand as the guest of Fonterra to help improve the environmental awareness and performance of its dairy farmer members. Gilding will front a series of seminars entitled “Grow Your Minds”, aimed at improving farmers’ sustainability performance.
Milk collections in April were down 34% according to Fonterra, dropping the volume for the 11 months of the current season below than of 2011/12 by 0.5%.
Prices at the latest Global Dairy Trade auction hosted by Fonterra fell 7.3% below the record breaking level achieved at the last auction, two weeks ago. The average winning price of US$4,697 per tonne is the first real fall this year, but the index remains well above the average price of the past five years.
Fonterra has made much of its triple skinned, light-excluding packaging for milk and cream as an innovative breakthrough in food packaging. But this is not quite true, as similar light protecting packaging was introduced for dairy products in the United States in 2000.
Fonterra Co-operative announced today senior management changes in its Asia Pacific Middle East Africa (APMEA) business unit, including the departure of the existing Managing Director APMEA and the appointment of a new Managing Director for Australia.
Fonterra Co-operative Group announced today the appointment of a new Director, Simon Israel, following the retirement of Ralph Waters.
Fonterra is renewing contracts for some of its organic dairy farmers in the middle and lower North Island, following a turnaround in its niche organics business.
After years of being no more than a supplier of raw material to infant formula marketing companies, Fonterra has declared it will launch its own infant formula into the Chinese market later this year. The announcement comes in the middle of the Prime Minister’s latest trade trip to China, and is expected to result in a significant improvement in Fonterra’s trade returns, as well as New Zealand’s export figures.
Food is not only our most essential business, it is our biggest, from farming to retailing it is the one sector of commerce that is essential to our individual and social survival, as food retailers caught in the Canterbury earthquakes can attest. But in spite of thousands of years of manipulation and planning, humans have never reduced the risk inherent in food production to a comfortable level.
Fonterra has launched the new packaging it hopes will give its domestic Anchor brand a market edge. The new package is promoted as protecting its milk contents from light, and consequently improving its long term flavour and texture.
New Zealanders could be facing another period of high dairy prices as the GDT-TWI Price Index jumped again at the latest Fonterra auction overnight. The rise, of 14.8%, came as volumes offered fell and demand in the face on the advancing drought rose. All sectors of the auction rose, with the average winning price up to US$4683 a tonne.