Fonterra agrees sale of Consumer businesses to Lactalis
Fonterra agrees sale of Consumer and associated businesses to Lactalis Fonterra Co-operative Group Ltd today announced it has agreed the sale of its global Consumer and associated businesses to Lactalis for $3.845 billion, subject to certain customary financial adjustments and conditions including approval by farmer shareholders, separating the businesses being sold from Fonterra, and receipt…
Fonterra meeting functional dairy ingredients demands of North Asia
In the dynamic markets of Japan and South Korea, Fonterra has emerged as a crucial player in the evolving world of functional dairy ingredients. These countries represent a unique combination of demographic shifts, health consciousness and culinary innovation that is transforming the dairy landscape. With Japan boasting more than 90,000 centenarians and South Korea projected…
ACCC approves merger of dairy giants Lactalis and Fonterra
The Australian Competition and Consumer Commission (ACCC) has approved a merger between the country’s two largest dairy processing companies, Lactalis and Fonterra. The planned takeover of Fonterra’s consumer, dairy ingredients and food service businesses by French group Lactalis would create a massive dairy company in Australia. Dairy company Lactalis has been given approval by the…
Analysts look for omens as GDT plummets
July, August falls widely expected to follow steep drop of July 2. Global Dairy Trade prices are widely expected to fall during July and August following the 6.9% drop in the GDT price index in the July 2 auction, dairy industry analysts say. A further 5% fall in whole milk powder prices, which is likely to…
Fonterra boss explains sale
Fonterra suppliers have received an insight into the company’s future direction from Oceania managing director René Dedoncker. Mr Dedoncker spoke at Fonterra’s Industry Breakfast in Moama on June 12, which also heard from Farm Source director Matt Watt. Mr Dedoncker said the decision to sell the Australian asset as part of the Oceania deal was a…
Fonterra puts its Australian dairy assets up for sale
Fonterra has put its Australian business, a major supplier of milk, up for sale in a move that has farmers concerned about shrinking competition in the processing sector. The New Zealand-based dairy giant – behind household brands such as Western Star butter, Mainland cheese and Perfect Italiano cheese – has eight manufacturing sites spread across…
Modest increase in GDT price index after latest auction
The average Global Dairy Trade (GDT) price index rose by 1.7% according to latest auction results published today (Tuesday, June 4). There were a total of 164 bidders in the event which saw 17,637MTof product sold. The GDT Price Index now stands at 1,162 today – compared to the previous index figure on May 21 of 1,143. The…
Windfall Awaits New Zealand Farmers as Fonterra Eyes Asset Sales
New Zealand dairy farmers could be in for a big pay day if Fonterra Cooperative Group follows through on plans to exit its global consumer businesses. Auckland-based Fonterra, the world’s largest dairy exporter, is considering turning away from branded consumer products to concentrate on making more high-value ingredients derived from New Zealand milk that it…
Global demand for Dairy remains sluggish
Commodity markets have softened through March 2024 against a backdrop of slightly weaker global fundamentals. The dairy complex had staged a recent rally since the bottom of the market in Q3 2023. Nonetheless, all dairy products except butter were softer in March 2024 and remain at or below five-year averages. Rabobank expects dairy commodity prices…
Global dairy trade event moved slightly up by 0.5%
Global dairy price index moved up slightly. AMF and Cheddar were the front runner in pushing the index upwards. AMF has finally reached at par with Butter prices. Butter demand remained sluggish. Cheddar also took a big leap to close at USD 4143/MT.SMP has not yet reached a significant level to become attractive for Indian…