Shanghai/Wellington | Reuters — Chinese police have arrested 19 people for repackaging and selling expired dairy products originally from New Zealand giant Fonterra Co-Operative Group, a Shanghai regulator said on Monday, the latest food scare to hit the country. The bust, which initially took place in March, uncovered the gang who had cut 276 tons […] Read more
China busts gang selling expired dairy products
Australia competition watchdog to widen dairy investigation
Sydney | Reuters — Australia’s competition watchdog will launch a broad investigation into the country’s dairy industry, the country’s deputy prime minister Barnaby Joyce said on Thursday. The investigation comes after Australia’s largest dairy processor Murray Goulburn and New Zealand’s Fonterra Co-operative Group in April reduced their farm gate prices, or what they pay farmers […] Read more
New Zealand farm firm bans use of palm in feed
Wellington | Reuters — New Zealand farm company Landcorp said Monday it would ban its farmers from using palm kernel expeller (PKE), a feed supplement used for cows that environmentalists have linked to rainforest destruction. The state-owned company, which runs 140 farms, said it would end the use of the feed by June 2017 to […] Read more
International dairy prices, volumes fall at auction
Wellington | Reuters –– International dairy prices fell overnight at the fortnightly GlobalDairyTrade auction, despite market expectations that prices might rise. Fonterra’s GlobalDairyTrade Price Index dipped 2.9 per cent, with an average selling price of $2,190 per tonne, in the auction held on Tuesday (all figures US$). A total of 20,406 tonnes was sold at […] Read more
Global dairy prices unexpectedly fall in overnight auction
Wellington | Reuters — Global dairy prices unexpectedly eased in the overnight GlobalDairyTrade auction, a platform established by New Zealand’s Fonterra Co-operative Group, the world’s biggest dairy exporter. Fonterra’s GDT Price Index dipped 1.6 per cent, with an average selling price of $2,458 per tonne, in the auction held Tuesday (all figures US$). Whole milk […] Read more
Fonterra cuts dairy jobs as ‘white gold’ rush fizzles
Wellington | Reuters — New Zealand dairy exporter Fonterra is cutting jobs in an effort to shore up its cash flows as a slump in global dairy demand, particularly from No. 1 buyer China, threatens to snuff out the country’s “white gold” rush. Dairy prices have more than halved from record highs scaled in 2013, […] Read more
Global dairy demand seen picking up only slightly
Wellington | Reuters –– Global dairy prices are expected to pick up only slightly over the next 12 months, New Zealand dairy co-operative Fonterra, the world’s largest dairy exporter, said Thursday. Fonterra said the subdued outlook amid sluggish demand would likely slow the pace of New Zealand dairy output growth, and kept its forecast payout […] Read more
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