Latest Fonterra Stories

High dairy prices have dampened global consumer demand. --------- ----------- The new payout announcement made by Fonterra will not lead to a dramatic belt tightening by dairy farmers. This is the belief of Manawatu/ Rangitikei Federated Farmers vice- chairman and Kiwitea dairy farmer Andrew Hoggard. "As history goes it's still a damn awesome payout. But given that our bottom line costs have also gone up, I guess there will be a few plans around capital expenditure that get put on the...

By BRETT, Cate THIS TIME last week the story was about China and the thousands of infants whose health has been compromised by contaminated milk powder. Had it not been for the fact our flagship exporter Fonterra was centre stage, the story would probably have run on the world pages. But the story has morphed into a global food safety crisis as products containing melamine are pulled from supermarket shelves all over the world. And yesterday we learn that one of New Zealand's most expensive...

By Jim Yardley and David Barboza Barely a month ago, China's staging of the Beijing Olympics demonstrated how the Communist Party could mobilize its authoritarian political system. But the international scandal unfolding over China's contaminated dairy products is demonstrating, again, the weaknesses of that system. In recent days, Prime Minister Wen Jiabao has apologized for a scandal that has sickened 53,000 children, killed at least three and devastated China's dairy industry, which he...

The list of products facing recall due to potential contamination with the chemical melamine grew larger Friday with the inclusion of many processed foods that contain milk and protein, such as chocolate and other snack foods.   Food companies throughout the world are now rapidly assessing their products and establishing strategies to prevent potential problems."We have to think about any processed food with milk or protein in it," James Rice, China country manager for Tyson...

By WOOD, Alan Cheese and butter supermarket prices might ease a little after Fonterra cut its forecast milksolid payout but milk prices will stay around existing levels, to the frustration of consumers. Fonterra, which has just taken a $139 million hit on the value of its contaminated San Lu milk business in China, has reduced its predicted payout for 2008/09 to $6.60 a kilogram of milk solids, down from an earlier forecast of $7. That forecast payout is lower than expectations and will...

An industrial chemical linked to the deaths of four babies turned up in candies and other Chinese-made exports causing an increase in food recalls across Europe and Asia on Thursday.White Rabbit candy in China was pulled from shelves in Shanghai and the southern province of Hainan. They were the first public reports of domestic recalls of goods other than milk products and milk.According to the government's Center for Food Safety, tests on White Rabbit showed it contained an...

By Gillian Wong Associated Press BEIJING -- An industrial chemical that made its way into China's dairy supplies and that authorities blame in the death of four babies has turned up in numerous Chinese-made exports abroad -- from candies to yogurt to rice balls. British supermarket chain Tesco removed Chinese-made White Rabbit Creamy Candies off its shelves as a precaution amid reports that samples of the milk candy in Singapore and New Zealand had tested positive for melamine -- an...

T WO stories in yesterday's paper confirmed what many of us have been thinking for some time: that Taranaki is ideally placed to ride out the financial storm sweeping the globe. And maybe come out of it a little ahead. Taranaki is lucky to have in abundance two commodities that will become more and more important in the coming years of stretched energy resources and food crises: we are certainly the pulse of the nation when it comes to oil and gas exploration, and one of the major players...

By JANES, Andrew FONTERRA announces its annual result and a fresh payout forecast for the current season today as it continues to deal with the fallout from the Chinese melamine scandal. In May, the dairy co-op forecast a payout of $7.90 a kilogram of milk solids for last season and made an initial forecast of $7 for the 2008-09 season. Fonterra chairman Henry van der Heyden said early this month that farmers should brace themselves for a volatile milk market this season. According to...

Research and Markets (http://www.researchandmarkets.com/research/8cf143/dairy_mergers_ac) has announced the addition of the "Dairy Mergers & Acquisitions 2008" report to their offering. Combining analysis, insight and opinion - Zenith is pleased to unveil its new series of short sharp topical market reports, delivering assessments of the emerging issues that matter to consumers and the wider dairy industry: -Adapt to change -Be early to market -Seize new growth opportunities...