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Fonterra spruiks dairy prospects
22 Feb 2005
New Zealand dairy group Fonterra said that productivity improvements, demand from Asia, a more favourable exchange rate and weather would all combine in time to deliver a sustainable price to dairy farmers for their milk. Fonterra, which owns Bonlac and is seeking to take over National Foods, said productivity improvements were possible. Fonterra said Australia’s dairy processors had excess capacity. Fonterra said global dairy trade, like Australian milk production, was growing at about 2 per cent a year. Prices for butter, cheese and milk powders were at historic highs, and that Australia and New Zealand farmers were in the box seat as market conditions changed.
The Age, 22/02/05
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