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…
Making of Manthan: Gujarat Land of Milk and Money
Cut to rural Anand in Gujarat right after Independence. A time of five-year plans being rolled out and nation-building. Manthan, Shyam Benegal’s cinematic telling of the success story of the state’s dairy farmers, which eventually led to the White Revolution, is like a silver slice of history. Manthan or The Churning from 1976 is once again in…
Should investors milk the profit in Heritage Foods now?
Heritage Foods (CMP: Rs. 626, Market Capitalisation: Rs. 5,814 crores, Under-weight), a leading dairy company with a diversified product portfolio that includes milk and milk-based products, posted a healthy revenue growth of 16 percent year on year (YoY) in the fourth quarter. This was primarily aided by a 20 percent increase in the volume of value-added…
Fate of dairy farms in limbo as Delhi High court weighs health concerns
The future of hundreds of dairy farms in Ghazipur and Bhalswa, where two of the city’s three landfill sites are located, hangs in the balance with the Delhi High Court scrutinising their compliance with legal and environmental standards. Late last month, the court had remarked that there was a need to shift Ghazipur and Bhalswa…
GST Council Recommends a Uniform Rate of 12% on all Milk Cans Meaning Steel, Iron, Aluminium
The 53rd GST council has recommended uniform rate of 12% on all meaning steel, iron, aluminum which are irrespective of the use. The Finance Minister Nirmala Sitharaman presided over the 53rd meeting of the GST Council today (22nd June 2024) at New Delhi with Revenue Secretary and CBIC Chairman. M Sitharaman said, “Council recommended to…
Packaged milk per litre: Consumers to pay Rs50 more from July 1
Pakistani packaged milk consumers will pay an additional Rs50 per litre starting July 1, 2024 due to the implementation of an 18 percent General Sales Tax (GST) in budget. The proposed 18 percent sales tax on packaged milk in the new budget could prove to be disastrous and, if not withdrawn, may shrink the size…
New laboratories will be established in four cooperative milk unions, says Mano Thangaraj
New laboratories will be established in four newly created district cooperative milk unions under the National Programme for Dairy Development (NPDD) to ensure the supply of quality milk products from farmers, announced Milk and Dairy Development Minister Mano Thangaraj, at the Tamil Nadu Assembly on Saturday. The labs would be set up in Cuddalore, Tiruvannamalai,…
Dairy dominoes: How China’s increased dairy self-sufficiency is reshaping global trade
China’s growing self-sufficiency in dairy production is having a profound influence on global dairy trade. As China produces more dairy products domestically, New Zealand must seek alternative markets for its whole milk powder exports, leading to greater global dairy export competition and below-average milk powder prices. China’s increased dairy production ripples around the globe China’s…
How the Plant-Based Products Market Is Winning Investors’ Favor
The plant-based ingredients sector is undergoing a transformative evolution, driven by a significant shift in consumer preferences and innovative advancements within the industry. Historically overlooked by investors who perceived it as a mere commodity sector, the burgeoning plant-based ingredients market is now being recognized for its immense potential for value-added expansion and wealth generation. According…
EnNutrica IPO begins bidding today: Check GMP, price band, lot size
The milk products manufacturer EnNutrica’s initial public offering (IPO) opens for subscription today, June 20, 2024. The primary issue aims to raise Rs 34.83 crores comprising entirely a fresh issue of 6.45 million shares. EnNutrica secured Rs 9.90 crore from anchor investors on June 19. The anchor investor list includes Next Orbit Ventures Fund, Nova…