News Milk
Fonterra writes higher results and milk price
The New Zealand dairy giant Fonterra closed the fiscal year 2020/2021 that ended in June with good figures. Turnover and profit were again higher. Members also benefited from a higher milk price and dividend.
Turnover increased slightly from €12,564 billion in the previous fiscal year to €12,653 billion in the recently closed year. Normalized profit, meanwhile, rose from €527 million to €570 million. The total milk price increased from €32,76 per 100 kilos to €35,42. Part of this was a dividend, which increased from 3 to 12 cents per share. This is evident from the published results.
In terms of sales, Fonterra did particularly well on the Chinese market. Things were a little more difficult in the rest of Asia and in the MENA region (the Middle East and North Africa).
Moderate price development
For the current production season, Fonterra foresees an average slightly more moderate milk price development than in the previous season. The milk price paid out has also peaked in recent months.
Remarkably, while Fonterra in New Zealand is firmly in member hands, a move towards 'mixed ownership' is being considered for the subsidiary in Australia.
Klaas van der Horst
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