Government to partner with Fonterra to cut coal use in dairy
The Government has announced it will partner with Fonterra in an attempt to cut coal use in the dairy industry, and reduce agricultural emissions. The relationship will see the dairy giant commit to cutting coal usage across six of its manufacturing sites which it says will result in 2.1 million tonnes of early C02e reductions….
Fonterra cuts this season’s milk price-lower price for next season
Fonterra announced a lower opening milk price for farmers next season and also cut its forecast for this season as Chinese demand lags behind pre-pandemic levels. The co-operative expects to pay farmers between $7.25 and $8.75 per kilogram of milk solids for the season starting next month. The $8 per kgMS mid-point, which farmers are…
GDT bounce, but gains seen fragile on weak fundamentals
Global dairy prices rebounded in Wednesday’s auction, but a sustained recovery in rates that have tumbled by a third over the past year is not on the cards due to abundant supply and reduced buying by top importer China, analysts said. The Global Dairy Trade price index, which is underpinned by prices from the auction…
Carbon efficiency the better way to cut dairy farm emissions
Late last week, Greenpeace New Zealand held a protest outside Fonterra’s head office in Auckland. According to Greenpeace, the area was being transformed into a flood zone and it was calling for more government action on climate change. The “flood zone” was a few old sofas and other junk representing flood debris and a handful of people carrying placards…
Fonterra cuts milk price forecast as demand from China slackens
Fonterra has reduced and narrowed its 2022/23 season forecast to $8.20 – $8.80 per kg of milksolids, with a midpoint of $8.50, due to softer demand out of China. The previous forecast was in a range of $8.50 – $9.50 per kgMS, with a midpoint of $9.00. The co-op has also cut its forecast milk…
End of Covid zero policy in China may lift the dairy prices in future
Dairy prices have started 2023 on a soft note, However, analysts are banking on China ending its Covid-zero policy to lift prices in the coming months. Westpac’s senior agri economist Nathan Penny says the bank is sticking to its forecast milk price of $8.75/kgMS for this season. “Prices in late 2022 had been weaker than…
Lactalis buys out Fonterra-Nestlé dairy venture in Brazil
French dairy major Lactalis has acquired the joint-venture assets in Brazil owned by Fonterra and Nestlé. Lactalis, which already has a presence in the South American country, has struck a deal for Dairy Partners Americas (DPA) for BRL700m (US$131.5m). Fonterra holds a 51% stake in the venture, set up in 2003, and Nestlé owns 49%. The transaction is expected…
Fonterra and Nestlé partner to create net zero carbon emissions dairy farm
The partnership hopes to achieve a “New Zealand first” – a commercially viable net zero carbon emissions dairy farm. The five-year project will be run with co-partner Dairy Trust Taranaki and will examine all aspects of the 290-hectare farm’s operations to reduce carbon. The initiative aims to cut emissions by 30% by mid-2027, with a…
Global dairy price Index down by 4.6% in second consecutive session
International milk prices and volumes fell in this month’s second Global Dairy Trade auction held by GDT Events on Oct 18th 2022 The GDT Price Index dropped 4.6%, with an average selling price of $3,723 per tonne. The index lost 3.5% at the previous sale, according to GDT Events. A total of 29,402 tonnes were…
Fonterra and DSM introduce precision fermentation for dairy-like proteins
Fonterra and Royal DSM are launching a start-up seeking to commercialize fermentation-derived proteins with dairy-like properties in what is described as a “complementary nutrition partnership.” The two companies have been collaborating since 2019 to build a comprehensive understanding of how to use precision fermentation science and technology to produce proteins similar to those found in…