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Dairy prices drop by 7.4 percent, worse than market expectations

The chances of an upgrade in Fonterra's farmgate milk price forecast became more remote this morning after world dairy prices fell by 7.4 per cent at the GlobalDairyTrade auction. The decline was sharper than futures market pricing had suggested. Wholemilk powder prices, the key product for determining Fonterra's farmgate milk price, fell by 8.0 per cent to US$2453 a tonne - well short of the US$3000 that farmers would be comfortable with. Another key product, skim milk powder, also ... more

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Natpre T-10 - natural substitute for nitrites and nitrates in cooked and dried meats

The use of nitrites and nitrates in meat products is highly topical, following the recent report from the World Health Organisation which recommended limiting the intake of processed meat to reduce the incidence of colorectal cancer. Which substances cause cancer? During meat processing, some carcinogenic chemical compounds can be formed, nitrosamines, which arise from the addition of some curing nitrifying salts. Should we eat meat? Of course, we should. In fact, the WHO ... more

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New independent director appointed to Fonterra board

Fonterra Co-operative Group Limited announced today the appointment of a new Independent Director Clinton Dines who will take up the Board position made vacant when Sir Ralph Norris steps down at the Annual Meeting on 25 November. Chairman John Wilson said world-class governance is one of the Board’s top priorities, and the Co-operative needed directors with a broad range of talent and depth of business experience. “The Board welcomes Mr Dines, an Australian, who has ... more

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Fonterra expands food service footprint in China

Photo: Demonstration kitchen in Fonterra’s new Application Centre in Guangzhou, China. Fonterra has launched a new Fonterra Application Centre in Guangzhou which will bring innovative dairy products and services to the Co-operative’s foodservice customers in the region. The Guangzhou facility is Fonterra’s second in China, after Shanghai, and reflects the growing demand for the company’s premium Anchor-branded foodservice products and accompanying services. ... more

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Wine industry welcomes prospect of free trade with the EU

New Zealand Winegrowers welcomes the announcement of a proposed Free Trade Agreement (FTA) between New Zealand and the EU. Improved access into the EU would be hugely beneficial to industry growth, commented Philip Gregan, New Zealand Winegrowers CEO. An FTA with the EU would be a great outcome for New Zealand’s wine industry. The EU, as a whole, represents our single largest market, with exports totalling over $460 million and representing in excess of 30% of total wine ... more

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Inaugural symposium showcases kiwifruit innovation

More than $35 million is invested in kiwifruit innovation each year and Zespri’s inaugural Kiwifruit Innovation Symposium in Mount Maunganui today will showcase leading science underway across the industry to a sold-out crowd. Zespri General Manager Marketing & Innovation Carol Ward explains Zespri set up this event to profile the work underway across the industry, share findings and get industry input into directions and priorities for future research. “This ... more

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Fonterra welcomes next step in partnership with Beingmate

Fonterra Co-operative Group Limited welcomes the formal approval by the Board of Beingmate Baby and Child Food Company Ltd to establish a joint venture to purchase the Co-operative’s Darnum plant in Australia (pictured)  – another milestone in the companies’ global partnership. Chief Executive Theo Spierings said China is a key strategic market for Fonterra, and the global partnership with Beingmate provides significant growth potential for both companies. ... more

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New Milk Fingerprinting technology earns innovation award for Fonterra

Fonterra has been recognised for a new diagnostic test that helps to ensure a safe supply of milk and reduces the time and cost of testing. The Co-op’s research and development arm won the Innovation Excellence in Research award at last night’s New Zealand Innovators Awards for Milk Fingerprinting. Simply put, Milk Fingerprinting delivers the detailed composition in milk by light analysis and sophisticated computing. Fonterra Chief Science and Technology ... more

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Wine industry makes solid commitment to its future

The New Zealand wine industry has shown resounding support for their national organisation by voting positively in the 2015 levy referenda, enabling New Zealand Winegrowers to receive continued levy funding. electionz.com, who facilitated the levy referenda, released results yesterday which show 87% of wineries (98% by volume) voting in favour of the wine levy, and 90% of grapegrowers (92% by value) voting in favour of the grape levy. Steve Green, Chair of New Zealand Winegrowers ... more

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Dairy prices dip again

The GlobalDairyTrade's four-auction winning streak came to an abrupt end this morning when prices fell by 3.1 per cent, led by declines in whole milk powder, skim milk powder and butter. Whole milk powder prices, which are key to determining Fonterra's farmgate milk price, dropped by 4.6 per cent to US$2694 a tonne. Another key product, skim milk powder, fell by 4.5 per cent to US$2178 a tonne while butter prices lost 11.1 per cent to US$2850 a tonne. Today's price action was ... more

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