Dairy | Fonterra raises lower end of profit view on strong demand for dairy products

Dairy producer Fonterra FCG.NZ on Thursday raised the lower end of its full-year profit outlook on strong demand for its products.

The company narrowed the expected range to between 25 and 35 New Zealand cents per share from 20 and 35 New Zealand cents per share.

The world’s biggest dairy exporter expects higher profit in the first half of its fiscal year and warned of sales margin pressure due to rising dairy prices in the second-half.

As of Feb. 16, global dairy prices have gained more than 25% compared with rates in mid-June. NZDAIR=ECI

In February, the company raised the price it pays farmers for milk for the 2021 season on strong demand for its dairy products in China and Southeast Asia as well as firmer global dairy prices.

Fonterra will announce its half-year results on March 17.

Look also

French farmers block access to Bordeaux port

Farmers up pressure on French government.

You may be interested in

Milk production slightly higher than year ago for third consecutive month

French farmers block access to Bordeaux port

Dairy freeze: What do cow farmers do in the winter?

Topics |
Dairy, Fonterra, Products

Legal notice about Intellectual Property in digital contents. All information contained in these pages that is NOT owned by eDairy News and is NOT considered “public domain” by legal regulations, are registered trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the rules contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable rules. Any claim arising from the information contained in the eDairy News website shall be subject to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentina, with seat in the City of Córdoba, excluding any other jurisdiction, including the Federal.