Fonterra’s Aust milk production increases
New Zealand’s multinational dairy co-operative Fonterra has revealed that its total milk production in the region rose 11 per cent in June, supported by improved conditions and winter milking.
Global dairy prices have been undercut by increased production, and fell during a fortnightly auction held earlier in the month.
Fonterra’s Australian milk production increased three per cent in the month, the company said in a statement.
Australian dairy exports rose six per cent in the year to May 2018.
The group logged a three per cent decrease in New Zealand dairy exports in May.
The milk producer appointed John Monaghan as the co-operative’s new chairman last week, after John Wilson resigned, citing concerns over his health.