INDEPENDENT NEWS

Fonterra Revises Milk Collection Forecast

Published: Tue 11 Jan 2022 11:04 AM
Fonterra Co-operative Group Limited today revised the forecast for its 2021/22 New Zealand milk collections to 1,500 million kilograms of milk solids (kgMS), down from its opening forecast of 1,525 million kgMS.
Fonterra CEO Miles Hurrell says varied weather and challenging growing conditions across many parts of the country earlier in the season saw actual milk collections down on the same time last year.
“We were expecting conditions to improve over the Christmas-New Year period, but this has not eventuated.
“As a result, we have revised our 2021/22 forecast down 1.6% to 1,500 million kgMS.
In response to the lower milk supply, Mr Hurrell says at this stage no change is needed to the volume of product the Co-op is offering on the Global Dairy Trade (GDT) platform.
“Due to the high demand for off-GDT sales, we had already reduced the volume we were offering on the GDT platform earlier in the season.
“We will continue to monitor the situation and carefully manage our sales both on and off-GDT.”

Next in Business, Science, and Tech

More Job Opportunities, But Growth In Workers’ Earnings Remains Subdued
By: Westpac
Card Spending Continues To Increase As COVID-19 Restrictions Ease
By: Statistics New Zealand
Westpac NZ Warns About Sophisticated New Scam
By: Westpac New Zealand
Job Market Ends 2021 On A High With Record Number Of Vacancies
By: Trade Me Jobs
September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M
By: Insurance Council of New Zealand
Building Consents Hit New Highs In November
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media