The full economic impact of Fonterra's infant formula
contamination scare remains unclear, although some economists
have suggested it may be short-lived.
China is questioning New Zealand's '100 per cent pure' brand
as headlines worldwide bring attention to Fonterra's milk
A 50c increase in Fonterra's forecast milk price for 2013-14
has been described as an ''overdraft clearer'', allowing
farmers to pay back credit lines extended to them during
Westpac has upgraded its milk price forecast to $7.40 per
kilogram of milk solids for the 2013-14 season, and suggested
Fonterra could even ''go north'' of that.
Dairy giant Fonterra has confirmed it is shedding 300 jobs
after a review of its support services.
Robotic technology being used at Fonterra's Edendale site to
identify any issues in the large milk silos has been
described as a ''godsend'' for the annual winter inspection
and maintenance programme.
Fonterra has confirmed a guaranteed milk price of $7 per kg
of milk solids (ms) for its 2013-14 season pilot scheme,
which it says has already attracted strong interest from
Former Fonterra chairman Sir Henry van der Heyden has warned
exporters to be wary of fraudulent behaviour when doing
business in China, saying: "Don't ever trust them ... never."
Nearly $500 million will be released into the economy as
Fonterra farmer shareholders elect to sell some of their wet
shares into this month's supply offer.
Fonterra's first forecast for the 2013-14 dairy season, due
tomorrow, is expected to add momentum to the New Zealand
economy, Westpac economist Doug Steel says.
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