Fonterra shows media how it creates value for farmers
Journalists from major media outlets attended a lunch at Fonterra’s head office in May, during which the Co-op showcased its strong preforming Ingredients and Foodservice businesses.
On display were a range of high-value dairy ingredients Fonterra sells to customers around the world. This included specialised proteins used in medical and sports nutrition, cheese that tops pizzas of some of the largest pizza chains and whipping cream which is used in various bakery and beverage applications.
Representing more than 90% of the Co-op’s milk solids sold, the Foodservice and Ingredients businesses drive strong returns on capital to farmer shareholders and are key to Fonterra’s strategy.
Richard Allen, President - Global Ingredients, introduced a new product ‘Cheddarsan’ at the lunch, an innovative cheese that combines the flavour of parmesan with the smooth texture of cheddar.
“Cheddarsan is unique to our Co-op. Developed by our team at the Fonterra Research and Development Centre in Palmerston North, this is an ingredient cheese for food manufacturers who are looking for value and flavour.
"This is a great example of how the Co-op is finding new ways to create value from milk, developing new applications for our ingredients, and strengthening our connections with customers around the world,” Allen says.
China remains the biggest market for our Foodservice products and is showing strong performance.
Teh-han Chow, President Global Foodservice and Greater China CEO, who presented with Allen, says the Foodservice channel continues to show strong growth prospects, as across China and Southeast Asia consumers’ appetite for dairy increases.
“China remains the biggest market for our Foodservice products and is showing strong performance. Our strategy is to maintain our leadership position in China and accelerate growth in South Asia, where we’re also seeing significant growth with a three-and-half-fold increase in earnings over the last three years,” Chow says.