Chinese Government directive “drink more milk to ward off effects of Covid” realised a 15% jump in the recent Global Dairy Trade prices, demonstrating the effect that China has on our Dairy Industry, 40% of Fonterra’s products are shipped to China.
Fonterra, which is owned by 10-thousand farmers, reaffirmed the farmgate milk payout at between $7.30 and $7.90 a kilo of milk solids when it announced its half year result.
The co-operative's normalised profit, which excluded one-off items, rose 43 percent to $418m, described as a "great" result by the chief executive Miles Hurrell.
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