Fonterra step-up in line with forecast closing

Fonterra has increased its average farmgate milk price for suppliers to $5.20 per kilogram of milk solids, bringing its price in line with its forecast closing price for the 2016/17 season.

Fonterra Australia managing director René Dedoncker said the revised price reflected improvement in the global commodity markets and progress on key initiatives for the Australian business.

“Production has fallen across the major exporting regions, particularly Europe and New Zealand, and we’ve seen a significant decline in Australian milk supply.

“This has helped to rebalance global supply, while demand has remained firm. As a result there has been a steady improvement in global dairy commodity prices and this is reflected in our farmgate price.

“Our strategy continues to progress, helping us to rebalance our product mix into products generating those higher returns, which we’re able to deliver back to farmers at the farmgate,” he said.

Mr Dedoncker said over the past six months Fonterra had achieved a number of key initiatives, including:

Strong growth in the ingredients business, with almost 1000 containers of cheese, whey and nutritionals exported to key global customers across December and January;

The construction of a multi-million dollar Stanhope cheese plant and expansion of our Cobden coolroom are also progressing well, with Stanhope on track for completion in mid2017, and the Cobden cool room ready to accommodate growth in Western Star from April, and

The Beingmate joint venture at Darnum is up and running, with the first product made under the joint venture now rolling off the line destined for China.

“The progress we’ve made on our strategy, coupled with improvements in the global dairy market, has enabled us to deliver this step up to our farmers.”

Individual suppliers’ milk prices will vary across Fonterra’s supply regions, depending on the individual farm’s milk profile, regional production factors, milk quality and farm management systems.

Pond pump stolen

A aquaponic pump was stolen from a pond in the community garden at Eastern Park last week.

Police said the theft occurred between Sunday afternoon and Tuesday afternoon.

Police said offenders forced off hinges to a gate in Cambridge Drv to gain access to the community garden area.

An aquaponic pump valued at $300 was stolen from the pond.

Police also are investigating the theft of a fern from a business garden bed on Friday morning.

A “cycas revolute” fern valued at $50 was stolen from a garden bed at the front of Warragul Chiropractic Centre in Albert St.

The theft occurred at about 8.30am.