Fonterra

Fonterra has retained its fourth placing in Rabobank's latest survey of the world's top 20 dairy companies.

The New Zealand Markets Disciplinary Tribunal has fined Fonterra $150,000 for breaching continuous disclosure requirements to the NZX during the dairy manufacturer and exporter's botulism false alarm last August.

Applications are open for Fonterra farmers to lock in a price for a percentage of their milk for the 2014-15 season.

Fonterra's forthcoming first-half financial result will come under close scrutiny this week from analysts and farmers alike, including expectation of a revision in financial guidance.

Fonterra said it had accepted charges laid against it by the Ministry for Primary Industries (MPI) over events that led to last year's precautionary market recall of whey protein concentrate.

Fonterra has hiked its forecast farm-gate milk price to a record $8.65 per kg of milk solids, with the 35c increase equating to an increase in dairy incomes of about $600 million.

The recent steep pick-up in Fonterra's cheese and casein stream prices may be running out of steam, ASB rural economist Nathan Penny says.

Alliance Group chairman Murray Taggart is standing by his comment that Fonterra director John Monaghan has withdrawn from the director appointment process - despite Mr Monaghan maintaining he has not.

Fonterra director John Monaghan has decided to pull out of a process to appoint an independent director to the board of Alliance Group, chairman Murray Taggart says.

Prices lifted 1.4% in this week's GlobalDairyTrade auction with an apparent convergence in product prices being cited as encouraging for Fonterra.