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10 Feb 2025 10:51
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  •   Home > News > Rural

    Fonterra's boss is adamant the dairy sector is not in crisis

    Fonterra's boss is adamant the dairy sector is not in crisis


    Fonterra
    Fonterra
    The diary giant has drastically cut its forecast Farmgate Milk Price -- with the midpoint falling from eight-dollars-per-kilogram of milk solids, to just seven-dollars.

    It's blaming reduced demand for whole milk powder from China.

    CEO Miles Hurrell says they've been through some tough times in the past when both international supply and demand has been against them.

    He says this is a demand issue, but there's not a heap of milk coming out of Europe and North America.

    Hurrell says that gives him confidence that if demand picks up, we should see our way through this.

    © 2025 Newstalk ZB, NZCity

     Other Rural News
     06 Feb: KiwiRail and Fonterra are celebrating a full return of rail volume to Northland
     29 Jan: Fonterra is investing 150 million-dollars in electrification over the next 18 months
     15 Jan: Good news for dairy farmers - not so good for everyone else
     16 Dec: An early Christmas present for sheep farmers, with rising export prices for lamb
     05 Dec: Fonterra has raised the midpoint of its forecast Farmgate Milk Price, by 50 cents, to 10 dollars
     20 Nov: Dairy prices have risen another 1.9 percent at this morning's Global Dairy Trade auction
     12 Nov: Another global dairy giant could take over some of Fonterra's most well-known brands
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