Dearer milk and milk products on the horizon
The ongoing rebalancing of supply and demand in global dairy markets has led the Fonterra Co-operative Group to increase its forecast Farmgate Milk Price for the upcoming 2018 season. The new forecast is $6.75 per kilogram of milk solids (kgMS), replacing the May 2017 forecast of $6.50/kgMS.
Fonterra’s chairman, John Wilson, said “We are seeing growing confidence on-farm across the country and, with global demand for dairy strengthening, the signs are for a good start to the season for our farmers and their rural communities, although following a challenging period of very wet conditions for some of our farmers.”
Chief Executive Theo Spierings meanwhile said the Co-operative is well positioned to take advantage of improving demand for dairy nutrition across Fonterra’s ingredients, consumer and foodservice markets.
Bulla Dairy Foods appoints Peter Hall as Chief Executive Officer
Peter Hall joins Bulla Dairy Foods next month as its next CEO, bringing to the role more than 25...
Saputo to sell its UK operations to Lactalis
Saputo Inc. has signed a definitive agreement to sell its UK dairy division to B.S.A. SAS...
Food fraud study in the UK estimates costs to economy
Researchers recommend a greater investment in tackling food fraud as a study finds it is costing...
