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4 Jun 2024 19:09
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  •   Home > News > Rural

    A recovering China is lifting hopes that Fonterra will continue to piggy-back on growing milk demand

    A recovering China is lifting hopes that Fonterra will continue to piggy-back on growing milk demand


    Fonterra
    Fonterra
    Despite Covid 19 challenges, the dairy co-op has increased its forecast price range to six-dollars 70 to seven-dollars 30 per kilo of milk solids - up from six-dollars 30 to seven-dollars 30.

    CEO Miles Hurrell says the food service trade to China is the stand-out performer so far.

    He says China has bounced back from Covid and its demand for whole milk powder is a key driver of the milk price.

    Other countries are, however, slower to recover.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     29 May: Fonterra remains wary about the state of the global dairy market
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     17 May: Uncertainty around Fonterra's plan to sell well-known brand Anchor
     17 May: Fonterra's CEO says the co-op's decided to divest a number of overseas operations, for the good of the business
     23 Apr: Sheep farmers are being urged to hang on
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
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