Fonterra sells Australian Bega stake
Fonterra said it had sold its 9 per cent stake in Australia's Bega Cheese, which it has held since 2013, for A$74 million.
Fonterra said it had sold its 9 per cent stake in Australia's Bega Cheese, which it has held since 2013, for A$74 million.
The price for New Zealand's key dairy export, whole milk powder, may drop about 5 per cent at this week's GlobalDairyTrade auction amid lacklustre demand.
China's decision to allow all married couples to have two children will be supportive for the New Zealand dairy industry, but only "at the margin", ANZ Bank said in a commentary.
Fonterra said its milk production hit a seasonal high of 86.9 million litres on October 22 - down 3 per cent from last season's peak.
September saw a 7.2 per cent decrease in milk production.
Fonterra's long-term credit rating has been cut by Fitch Ratings.
World dairy prices were down 3.1 per cent in the latest overnight auction.
Fonterra's milk production is close to hitting its seasonal peak.
Fonterra faces higher borrowing costs now its credit rating has been downgraded from "A" to "A minus".
Fonterra has named six candidates for its board at next month's election and pressure has emerged to reduce the number of directors.
An Auckland businessman accused of threatening to contaminate infant formula with the poison 1080 was financially motivated, charge sheets allege.
Police arrest 60-year-old businessman over a threat to contaminate infant formula with the poison 1080.
Dairy prices were up for the fourth time in a row in the latest world dairy auction. Why?
This week's GlobalDairyTrade auction is shaping up to be another strong one.
Fonterra's chief executive has asked for a freeze on his $4m salary.
Spokesman says fans of controversial scheme can turn to NZX for help with milk prices.
Fonterra executives will have their work cut out convincing farmers to reduce their use of what has been a key feed supplement over the past 10 years - palm kernel.
Fonterra lost market share in the South Island and will probably lose more this season before an improvement in 2016/17, says CEO Theo Spierings.
Jose Miguel Porraz is negotiating an uneven Kuala Lumpur footpath as he talks up the benefits of emerging markets.
Theo Spierings gets a pay rise of up to 18 per cent as Fonterra prepares to lay off 750 staff.
Fonterra is reporting a big turnaround in annual profit and a much improved forecast cash payout for the current year.
Dairy giant announces improved profit just days after increased the number of jobs it was cutting to 750.
Fonterra is on track to significantly improve its profits over the next decade, says KPMG.
Fonterra looks set for a big rebound in its annual net profit when it reports its result tomorrow, but the dairy co-operative will face challenges as the sector worldwide tries to adapt to low demand....
Dairy giant plans to move into new 1.6ha international headquarters early next year.
The expected layoffs of about 90 science staff at AgResearch, the country's largest Crown research institute, is a "pretty fatal blow" to agricultural research, says Doug Edmeades, a....
Low dairy prices have continued to weigh heavily on farmer sentiment, according to Rabobank's Rural Confidence Survey.
More Fonterra job cuts have raised questions about whether the dairy giant will need all the space it has leased in new upmarket Auckland headquarters.
Chief executive Theo Spierings says dairy giant has to make tough decisions as review increases job cuts to 750.
Does this morning's big jump in world dairy prices mean an increased payout for farmers? There might be a long way to go.