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Dairy auction prices tipped to fall
Fonterra's board will meet on Friday to review the farmgate milk price.
Fonterra's board will meet on Friday to review the farmgate milk price.
Fonterra says it sets itself high environmental standards despite being fined $362,000 in two separate prosecutions for Resource Management Act breaches.
Fonterra's has copped some flak for its performance, but chief executive Theo Spierings says the co-operative dairy giant would not deviate from its current course.
As milk prices fall, farmers keep waiting for the cycle to turn. But what if Fonterra's problems are longer term, asks Jamie Gray.
Westland will decide on its final 2014/15 payout in September.
Is Fonterra on the right track? Or is it time for Plan B? Plan B would result in the company being split into a basic commodity player focused on growing the milk price.
As Fonterra's NZX-listed units languish near an all-time low, analysts say the market will remain cool on the dairy giant.
Fonterra Co-operative Group has put on hold plans to develop an Equity Partnership Trust that would have given its 10,500 farmer suppliers access to investor capital to help them with the compulsory....
Pressure is building on Fonterra chief executive Theo Spierings as the dairy industry faces up to a winter of discontent, writes Liam Dann.
BNZ has lowered its 2015/16 milk price forecast for Fonterra but says it expects dairy prices to recover late this year.
NZX dairy futures prices are trading at a discount to the physical market in the aftermath of a worse-than-expected GDT auction.
Dairy giant Fonterra cut 523 jobs yesterday - in a bid to cut its payroll bill by up to $60 million a year - on a day of bad news for the economy.
Hundreds of Fonterra employees and thousands of its farmer-shareholders have been dealt the twin blows of impending job losses and the prospect of a much lower farmgate milk price.
Chief Theo Spierings admits news unsettling for staff as co-op tries to reduce its payroll bill by up to $60m a year.
Liam Dann says axing 523 jobs may make financial sense to Fonterra's chiefs but the dairy slump is bigger than that.
Fonterra's board will consider its current farm gate milk price forecast for 2015/6 at its next meeting on August 7, a spokesman for the co-operative said.
Dairy prices have plunged in the latest world dairy auction, taking the Kiwi dollar down with it.
In submissions to the Commerce Commission, Fonterra's competitors say there is insufficient competition to deregulate.
The Chinese dairy firm partially owned by Fonterra has been suspended from trading amid the Chinese stock market turmoil.
Accolades for Craig Norgate rolled in yesterday from the rural and corporate sectors after the high-flying executive died suddenly in London.
The family of Fonterra’s first chief executive Craig Norgate may have to wait more than two weeks before they can bring the 50-year-old’s body home.
Shares in Beingmate - the Chinese company which is 18.8pc owned by Fonterra - have halved in value over the past three weeks.
The New Zealand dollar fell after prices for the nation's largest commodity export declined in the latest GlobalDairyTrade auction overnight.
The price for NZ's key dairy export, whole milk powder, is set to decline further at tonight's GlobalDairyTrade auction.
MP says cost to Kiwis unacceptable as Fonterra, supermarkets point finger at one another.
Prime Minister John Key says overseas markets are causing high prices for milk at home.
Dairy prices slipped again at this morning's GlobalDairyTrade auction, the GDT price index falling by 1.3 per cent.
Fonterra has once again successfully tapped into the so-called dim sum bond market in Hong Kong by this week raising 1 billion renminbi ($230 million) through a five-year bond.