Fonterra Shifts Direction

Fonterra Shifts Direction

Fonterra has announced a major change in its strategic direction, and will explore full or partial divestment options for some or all of its global Consumer business and brands, including the integrated Fonterra Oceania which is the recently merged Fonterra Brands New...
Fonterra Shifts Direction

NZ: Fonterra Plant Closures

Fonterra will close a number of ageing plants at two Waikato sites in an effort to optimize operations. Fonterra’s Waitoa PDC, a coal centre and two dryers in Te Rapa are no longer efficient to operate and will close later this year.     The Te Rapa driers will close...
Fonterra Shifts Direction

Petition mounted to maintain NZ export ban

  In response to the new government’s pledge to repeal a ban on live exports, a parliamentary petition started by former National Animal Welfare Advisory Committee chairperson Dr John Hellstrom has garnered more than 17,000 signatories since it was started on the 23rd...
Fonterra Shifts Direction

Fonterra combines trans-Tasman units

Fonterra is merging its Australian business and Fonterra Brands New Zealand (FBNZ) into Fonterra Oceania from 1 May 2024. FBNZ includes consumer brands and foodservice businesses in New Zealand, including brands Anchor, Mainland and Kāpiti. Announcing the merger in an...
Fonterra Shifts Direction

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 Shifts Direction

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...