Fonterra updates FY2023 guidance

Fonterra updates FY2023 guidance

After reducing its forecast milk price forecast last week, Fonterra updated its FY23 earnings guidance, forecasting a full year dividend at the top end of its range of 65c – 80c per share. Fonterra is still in the process of finalising and auditing its FY23 numbers,...
Fonterra updates FY2023 guidance

US exports weak in March

US dairy exports declined across most major product categories we track in March (except lactose, MPC, WPC80 and FFMP & Mixtures). We estimate that in milk solids equivalent (MSE) terms, shipments fell 5.9% YOY, a similar decline as in February. There were 41,678t...
Fonterra updates FY2023 guidance

NZ confidence sinks lower

Rabobank’s first quarterly survey among NZ farmers has revealed confidence has lifted slightly since the previous survey in December but remain very low with a net confidence reading of -58%, up from -71%. The number of farmers expecting conditions to improve rose to...
Fonterra updates FY2023 guidance

Fonterra upgrades full-year earnings forecast

Fonterra announced interim FY2023 results, upgrading its top and bottom end range for its full year forecast earnings by NZ5c per share and announced a tax-free capital return of around 50c per share. The proposed tax-free capital return to farmers is subject to...
Fonterra updates FY2023 guidance

Draft plan for NZ emissions pricing released

The primary sector climate action partnership He Waka Eke Noa (HWEN) in New Zealand has released its draft framework to reduce agricultural greenhouse gas emissions, proposing to price farming emissions and incentivise reductions. Under the plan, farmers will pay for...
Fonterra updates FY2023 guidance

Fonterra NZ’s capital structure wins vote

Fonterra shareholders voted yes to a new capital structure proposal with 85.16% of farmers voting in favour. Fonterra chairman Peter McBride said the vote was a strong mandate for change and called it the most important decision Fonterra farmers have made in almost a...