It’s biggest customer China has recovered pretty well from covid-19 thus far, and its buyers had boosted prices on the GDT platform.
And, farmers are looking to bank the gains with milk production up a touch on last year. Advance payments will adjust to the new forecast so that will pad the bank balance before Christmas.
But chief executive Miles Hurrell told BusinessDesk he has a wary eye on the China-Australia relationship. He’s hopeful diplomacy will prevail but that, along with slowing supply chains and virus resurgences in other markets means there are still a few headaches for the big co-operative.
But, people are still buying dairy and New Zealand farmers are still producing it with no covid-related restrictions. It’d be great if 2020 could at least end on a high note.
Fonterra forks out for Christmas
The 20c increase in advance payments will deliver $300 million more into farmers’ bank accounts, more than half of it before Christmas.
Supply and quality commitment rewarded
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Dairy prices peak for Christmas
The highest Global Dairy Trade (GDT) price index rise since July and the second-highest for 2020 helped bring a turbulent year to a satisfactory close for New Zealand dairy farmers.
Meat sector’s five-year targeted plan
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