Fonterra on track for record production
Fonterra is set to report record production for the 2010-11 season, by-in-large thanks to favourable autumn weather.
Fonterra is set to report record production for the 2010-11 season, by-in-large thanks to favourable autumn weather.
Coming on the back of the co-operative forecasting a record payout of $7.90 to $8 to its farmer shareholders for the season, it's a good time to be a Fonterra supplier.
Fonterra's general manager milk supply, Steve Murphy, said with the season due to finish at the end of the month, production was up 4% on the same stage last year, despite many of its farmers having struggled through cold, wet spring.
“Exceptionally favourable pasture growth conditions since January mean our farmer shareholders have enjoyed strong production around the country, particularly north of Taupo,” Mr Murphy said.
Last season Fonterra collected about 1.3 billion kilograms of milksolids.
The additional milk would be welcomed in the market where supply remained tight, Mr Murphy said. Prices for globally traded dairy products, while off their highs of early March, were still at historically high levels, he said.
During March, Fonterra exported 229,000 tonnes of dairy products, its best ever month.
Colin Williscroft
Tue, 17 May 2011
Tue, 17 May 2011
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Fonterra on track for record production
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