Fonterra recognizes high-performing farmers in new sustainability approach

NEW ZEALAND – The leading New Zealand’s dairy co-operative, Fonterra has unveiled a new sustainability approach which recognises farmers who strive to produce high-quality milk sustainably. Fonterra says the new approach will help equip farmers with knowledge of what is expected ‘today and in the future’ while putting sustainability at the forefront. This will enable…

Fonterra returns to profitability with 2% rise in sales volume, to sell DFE Pharma stake

NEW ZEALAND – The New Zealand dairy co-operative, Fonterra has reported a net profit after tax of US$54.7 million (NZD 80 million), up 123% boosted by increase in sales volume. In the six months ended January 31, revenue dropped 1% to US$6.63 billion (NZD 9.7 billion), impacted by the Consumer and Foodservice Gross Margin which…

Yili to buy New Zealand’s Westland Co-operative Dairy for US$404m

NEW ZEALAND – Yili group, the state-owned Chinese dairy company has entered an agreement to acquire Westland Co-operative Dairy Company, an independent co-operative dairy company in New Zealand for US$404 million. The conditional scheme implementation agreement was signed by the board of Westland Co-operative and is subject to shareholder approval. “Under the proposed transaction our…

Fonterra appoints Judith Swales as head of Global Consumer and Foodservice

NEW ZEALAND – The New Zealand dairy giant, Fonterra has appointed Judith Swales as the company Chief Operating Officer, Global Consumer and Foodservice effective immediately. Judith Swales was appointed to the role in acting capacity earlier this year after the former COO, Lukas Paravicini announced his intentions to resign from the cooperative in November 2018.…

Fonterra appoints Miles Hurrell as Chief Executive Officer

NEW ZEALAND – Dairy giant Fonterra has named Miles Hurrell as the company’s new Chief Executive Officer with immediate effect, after serving in the position as interim since August last year. During his tenure as interim CEO, Hurrell has been hailed to have demonstrated strong leadership and commercial skills in the co-operative, which is a…

Nestle acquires New Zealand technology to fight iron deficiency

NEW ZEALAND – Global food giant, Nestle has acquired a novel technology developed by New Zealand scientists to help tackle iron deficiency, one of the world’s widely spread nutritional deficiencies. Called FERRI PROT, the technology encompasses novel techniques that looks to address iron deficiency while preserving product quality. It was developed by researchers at the…

Ingredion’s Reb M stevia sweetener receives approval in New Zealand

NEW ZEALAND - Food Standards Australia New Zealand (FSANZ) has approved Ingredion’s BESTEVIA Reb M Stevia Leaf Sweetener for use as an intense sweetener in food and beverages. The governmental standards authority said that through a detailed risk assessment, it found no public health or safety concerns regarding the sweetener. BESTEVIA® Reb M stevia leaf sweetener…

Fonterra sells Farm Source livestock division to Carrfields Livestock

NEW ZEALAND – The global dairy giant has announced that it will sell the Farm Source™ livestock division to Carrfields Livestock, a family-owned livestock and dairy herd agency. The deal whose price was not disclosed is expected to be effective March 1, 2019. According to Richard Allen, Farm Source™ Stores Director, the divestment plan was…

Dairy co-operative Westland to build new US$15m plant in New Zealand

NEW ZEALAND - Westland Milk Products, a co-operative dairy company in New Zealand has unveiled plans to build a new US$15.1 million plant at its Hokitika site in South Island. The investment includes US$6.7 million loan from the government to build a facility that will ensure availability of quality dairy products in the West Coast…

Australia and New Zealand alcohol producers to develop warning labels on products

AUSTRALIA - Alcohol producers will be forced to label their products with warnings relating to the risks of drinking during pregnancy in an agreement reached by Australian and New Zealand ministers. According to Food Business News, the labels will be developed by Food Standards Australia New Zealand in consultation with the alcohol industry, and will…