Global Dairy Update
GLOBAL DAIRY UPDATE
The Global Dairy Update keeps our farmer shareholders, investors and stakeholders informed about the Co-operative. It provides a review of key business developments and information on Fonterra's activities around the world.
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March 2018 - In this edition
- Demand for dairy remains strong in China. Latin America and Asia imports decline for the month.
- Growth in dairy exports from New Zealand in January. Steady growth from the EU and the US.
- Increased production from the EU in January. New Zealand production down for the month.
- In February, Fonterra New Zealand milk collection was down 4% to 135 million kgMS, and Fonterra Australia collection was up 30% to 11 million kgMS compared to February last year.
- Fonterra has recently announced its FY18 interim results:
- Forecast cash pay-out range for the 2017/18 season increased to $6.80-$6.90.
- A strong Ingredients performance, generating normalised EBIT of $558 million, up 9%.
- Operating performance impacted by Danone arbitration decision and Beingmate impairment.
- Science meets art as Fonterra takes home top cheese honours.
- Advanced technology investment set to deliver 70% reduction in water use at Darfield.
- Fonterra launches cutting edge virtual reality technology, taking health and safety into a future state.