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Fonterra dairy group hikes 2023 earnings forecast on strong demand
Markets, News

Fonterra dairy group hikes 2023 earnings forecast on strong demand

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New Zealand’s Fonterra Co-operative Group has raised its earnings forecast for fiscal 2023, citing strong demand and higher prices for its milk products, and said it expects a further boost if favourable conditions persist. The world’s biggest dairy exporter said it now expects to earn between 45 and 60 New Zealand cents per share in
(Fonterra.com)
Dairy cattle, Livestock

China busts gang selling expired dairy products

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Shanghai/Wellington | Reuters — Chinese police have arrested 19 people for repackaging and selling expired dairy products originally from New Zealand giant Fonterra Co-Operative Group, a Shanghai regulator said on Monday, the latest food scare to hit the country. The bust, which initially took place in March, uncovered the gang who had cut 276 tons
(Fonterra.com)
Dairy cattle, Livestock

Australia competition watchdog to widen dairy investigation

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Sydney | Reuters — Australia’s competition watchdog will launch a broad investigation into the country’s dairy industry, the country’s deputy prime minister Barnaby Joyce said on Thursday. The investigation comes after Australia’s largest dairy processor Murray Goulburn and New Zealand’s Fonterra Co-operative Group in April reduced their farm gate prices, or what they pay farmers
(Landcorp.co.nz)
Livestock

New Zealand farm firm bans use of palm in feed

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Wellington | Reuters — New Zealand farm company Landcorp said Monday it would ban its farmers from using palm kernel expeller (PKE), a feed supplement used for cows that environmentalists have linked to rainforest destruction. The state-owned company, which runs 140 farms, said it would end the use of the feed by June 2017 to
(Keith Weller photo courtesy ARS/USDA)
Dairy cattle, Livestock, Markets

International dairy prices, volumes fall at auction

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Wellington | Reuters –– International dairy prices fell overnight at the fortnightly GlobalDairyTrade auction, despite market expectations that prices might rise. Fonterra’s GlobalDairyTrade Price Index dipped 2.9 per cent, with an average selling price of $2,190 per tonne, in the auction held on Tuesday (all figures US$). A total of 20,406 tonnes was sold at
Skim milk powder. (PelchGroup.com)
Dairy cattle, Livestock, Markets

Global dairy prices unexpectedly fall in overnight auction

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Wellington | Reuters — Global dairy prices unexpectedly eased in the overnight GlobalDairyTrade auction, a platform established by New Zealand’s Fonterra Co-operative Group, the world’s biggest dairy exporter. Fonterra’s GDT Price Index dipped 1.6 per cent, with an average selling price of $2,458 per tonne, in the auction held Tuesday (all figures US$). Whole milk
Dairy cattle, Livestock, News

Trade deal to hit dairy farmers hard

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The Dairy Farmers of Canada estimates milk quota will have to be cut by more than two per cent, 
and producers will collectively see an annual $150-million drop in income

The proposed trade deal with Europe could cost Canadian dairy producers $150 million a year in lost income, according to the Dairy Farmers of Canada. Details of the Comprehensive Economic and Trade Agreement (CETA) are still being hammered out and it’s expected to be two years before the deal is ratified by the European Union’s
Dairy cattle, Livestock, Opinion

Supply management is in trouble

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Good news. Canada is joining talks for the Trans-Pacific Partnership, which will open lucrative new trade opportunities — if we give up supply management. Or so you’d think by reading national newspapers these days. Ever since Canadian participation in the TPP talks was announced last month, columnists in the Globe and Mail and National Post

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