Tag Archives: dairy

Prices of dairy products may extend this year’s 34 percent slump, economists say, adding to pressure on Fonterra Cooperative Group to lower its milk payout forecast and taking some of the steam out of New Zealand’s economic expansion. The GDT Price Index dropped 8.9 percent to the lowest level since December 2012 in the latest GlobalDairyTrade auction, the 10th decline in past …

 Dairy product prices fell to the lowest level since December 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and anhydrous milk fat. The GDT price index dropped 8.9 percent to US$3,309 a tonne, from US$3,595 a tonne two weeks ago. Some 36,656 tonnes of product was sold, down from 41,513 tonnes two weeks ago. ‘New Zealand’s regional …

Dairy product prices rose for the first time since February in the latest GlobalDairyTrade auction, paced by butter milk powder, as buyers found value after the recent slide in prices. Expanding global milk supply and a drop in buying by Chinese importers as they run down inventories has weighed on dairy prices this year, although lower prices are now starting …

Fonterra Cooperative Group has tapped Robert Spurway to head up its global operations division in a newly created role as New Zealand’s dominant dairy exporter chases global ingredient sales to offset volatility in dairy prices. Spurway is currently with the company as acting director of New Zealand operations in NZ milk products and has previously worked across the Tasman for …

Synlait Milk, the dairy processor which counts China’s Bright Dairy as a cornerstone shareholder, cut its full-year earning forecast for the second time this year as a strong currency and an unfavourable product mix weighs on the exporter. The Rakaia-based company said profit will be $17.5 million to $22.5 million in the year ending July 31, down from a March estimate …

Investors punished Synlait Milk shares after the dairy processor was forced to wind back the bullish profit forecast it gave in January because of disruptions from increased Chinese regulations on infant formula and unfavourable foreign exchange movements. The stock dropped 7.3 percent to a three-week low of $3.70, trimming their gains from last year’s initial public offering to 68 percent. …

The Ministry for Primary Industries has filed four charges in the Wellington District Court against Fonterra Cooperative Group for breaches of the Animal Products Act during last year’s whey protein concentrate incident. The charges are that Fonterra failed to process dairy products in accordance with its risk management programme and didn’t notify authorities about the lapse, exported dairy products that …

A2 Corp, which markets milk products with a protein variant claimed to have health benefits, says a distribution deal it has done in China should generate $US50 million of revenue in four years” time. The shares rose to a month-high. The alternative-market listed company has appointed China State Farm Holding Shanghai Company, a subsidiary of state-owned China National Agriculture Development …

Fonterra Cooperative Group, the world’s biggest dairy exporter, will “vigorously defend” a claim by French food processor Danone over last year’s recall of whey protein concentrate. best essay writing services The Auckland-based company is working through Danone’s claim after negotiations for a commercial settlement failed. The French company will file papers in the High Court in Auckland today and has …

Units of Fonterra Shareholders’ Fund were cut to ‘sell’ from ‘hold’ by brokerage Craigs Investment Partners because of the ongoing squeeze of rising raw material costs and weaker prices for value-added products such as casein and cheese. Fonterra’s 2014 normalised earnings before interest and tax may fall 24 percent to $764 million, Craigs analyst Arie Dekker said in a report. …