Riley Kennedy

4 days ago | businessdesk.co.nz | Riley Kennedy

Teh-Han Chow has gone global – literally.The Shanghai-based Fonterra Co-operative Group executive has been running the co-op’s Greater China business for the past six years but was recently promoted to run its global foodservice business.It’s a big job considering the importance the co-op has placed on the channel, which takes roughly 15% of its milk.Chow joined Fonterra nearly 10 years ago and, in 2019, became the chief executive of its Greater China business, initially in an acting...

1 week ago | businessdesk.co.nz | Riley Kennedy

Miraka will open the dairy season with a forecast milk price midpoint slightly lower than Fonterra Co-operative Group's opening price, saying it is important to understand the full picture.The Māori-owned, Taupō-based processor announced an opening forecast price of between $8.85 to $10.85 per kilogram of milksolid (kgMS) with a midpoint of $9.85/kgMS.That’s below Fonterra’s opening price, issued this week, of $10/kgMS and a wide range of $8/kgMS to $11/kgMS.It did not issue a midpoint,...

1 week ago | businessdesk.co.nz | Riley Kennedy

Miraka will open the dairy season with a forecast milk price slightly lower than Fonterra Co-operative Group, saying it is important to understand the full picture.The Māori-owned, Taupō-based processor announced an opening forecast price of between $8.85 to $10.85 per kilogram of milksolid (kgMS) with a midpoint of $9.85/kgMS.That’s below Fonterra’s opening price, issued this week, of $10/kgMS and a wide range of $8/kgMS to $11/kgMS.Given the co-op’s share of the country’s milk collections,...

1 week ago | businessdesk.co.nz | Riley Kennedy

Fonterra Co-operative Group is expecting strong demand for dairy to continue “for now”.It will open the new dairy season with a wide range in its forecast milk price of between $8 per kilogram of milk solids (kgMS) to $11/kgMS, with a midpoint of $10/kgMS.But it acknowledges the ongoing geopolitical uncertainty and “the potential for a wider series of outcomes across the season”.The current dairy season finishes on May 31. It left the current season’s range unchanged at $9.70/kgMS and $10/kgMS.

1 week ago | businessdesk.co.nz | Riley Kennedy

Zespri expects softness in the Chinese economy to continue for at least the next two to three years.While consumers in the country are still spending, they just aren’t spending as much, the kiwifruit marketer’s chief executive Jason Te Brake, says.“Rather than spending a $10 equivalent, they are now spending $8.”Grower-owned Zespri last week released its 2024/25 results, reporting operating revenue of $5.14 billion – blowing well past its target set 10 years ago of $4.5b by 2025 – with a net...