Fonterra's innocuously worded ''Global Dairy Update'',
released on Monday, provided another shock to Fonterra
Shareholder Fund (FSF) unit holders, Milford Funds senior
analyst Brooke Bone says.
Fonterra chief executive Theo Spierings says the roll-out of
the dairy co-op's infant formula brand in China is "on track"
despite the ongoing fallout from the company's botulism
Voting is now open for the 2013 Fonterra board of directors'
elections. This year there are five candidates standing for
the board of directors.
Fonterra's southern shareholders will have an opportunity to
meet and question director candidates during a series of
With the first anniversary of Trading Among Farmers (TAF)
approaching, Craigs Investment Partners broker Greg Easton
believes investors are well served taking a cautious approach
Fonterra has gone some way in reassuring the New Zealand
public and its many overseas clients it has taken seriously a
report released this week on its internal safety and
Fonterra says the potential contamination of 14 milk tankers
with mud and gravel is a "very minor incident" and its safety
systems worked as intended.
Exports leapt higher in September, led by a strong recovery
in dairy exports following trade disruptions in August caused
by the Fonterra contamination scandal.
Fonterra is spending $72 million at its Clandeboye mozzarella
plant to cater for a growing food service business.
French food giant Danone has confirmed it is seeking full
compensation from Fonterra for damage caused to its business
following the New Zealand dairy company's botulism scare.
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