Fonterra's move to rail transport went without a hitch yesterday.
Fonterra Co-operative Group Ltd has firmed up projections for a bonanza payout for the current dairy season of $7/kg-$7.10/kg -- representing a $9 billion boost to the economy -- with an unchanged forecast milk price of $6.60/kg.
Fonterra plans further international growth of its branded products business and to look at more acquisitions after a strong performance for the 2009-10 financial year.
Police are speaking to two Greenpeace protesters after employees were forced to evacuate Fonterra's headquarters in Auckland over a bomb scare this morning.
Fonterra has reiterated a hands-on policy for the supply of milk in China for manufacturing into its dairy products by announcing it was close to purchasing the lease of two farms near Beijing.
Dairy giant Fonterra says it is "100 percent confident" about its products after a Chinese infant formula company under investigation over claims its milk powder contains hormones said the milk powder came from New Zealand.
Fonterra has invested $7.75 million upgrading its Stirling cheese factory so it can start mass-producing its award-winning reduced-salt cheddar cheese.
Fonterra is treading a cautious line, deciding to maintain its forecast payout for the coming season despite an expectation global prices will improve this season.
Dairy exporters will be watching intently Fonterra's globalDairyTrade internet milk-powder auction next month for reaction to news drought has forced Russia to ban wheat exports.
Dairy company Fonterra has confirmed it is a supplier to a Chinese infant formula company under investigation over claims its milk powder contains hormones and is causing infant girls to grow breasts.
A sudden surge in the value of the New Zealand dollar threatens to take the steam out of the export-led recovery, with one bank warning Fonterra could wipe $1 a kg off its forecast milk solids payout this season.
Fonterra's milkpowder prices fell for the fourth consecutive month at today's online auction.
The Government is extending rules which assist dairy companies to compete with Fonterra but has promised to address criteria under which Fonterra has to supply milk to its competitors.
New Fonterra Shareholders' Council chairman Simon Couper spent many years working in banking, but the land pulled him home to the family farm in Northland.
Economic uncertainty and the start of a new European dairy season saw milk powder prices fall nearly 14% in Fonterra's monthly internet auction on Tuesday night, a trend that could continue for the next few months.
Fonterra could accumulate a $1 billion war chest should shareholders take up their new maximum share entitlement.
Shareholders were left wondering yesterday why they had not considered changes to Fonterra's constitution before now.
Fonterra shareholders have sent a resounding message that they are ready to tackle all-comers by yesterday agreeing in record numbers to change the co-operative's constitution.
Fonterra shareholders have voted overwhelmingly in favour of allowing share trading among farmer suppliers, effectively moving the immediate prospective of a sharemarket float off the co-operative's agenda.