Tag Archives: Fonterra

Fonterra Cooperative Group hasn’t seen any signs of customers reducing their business and says it is too soon to say whether the costs of dealing with the contamination will result in a charge against earnings. Chief executive Theo Spierings told a conference call today that with listed units on the NZX, Fonterra has obligations to disclose any significant financial impact. …

ASX-listed fund manager Perpetual has used Fonterra Cooperative Group’s food scare to trawl for cheap units in the dairy exporter’s listed fund. Funds managed by Perpetual bought about 1.26 million units, or 1.17 percent, of Fonterra Shareholders’ Fund for some A$7.32 million on Aug. 5, when the price plunged in the first trading day after the dairy company said some …

The New Zealand dollar advanced as investors increased their holdings of the local currency following a sell off earlier in the week on concern about the impact of a food contamination scare on the New Zealand economy. The kiwi rose to 79.56 US cents at 8am in Wellington from 78.94 cents yesterday. The trade-weighted index gained to 75 from 74.66. …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has launched an investigation into a food contamination scare after accounting for the potentially tainted product. Chief executive Theo Spierings told a briefing in Auckland all affected whey protein and its derivatives had been contained internationally, and he was satisfied the contamination scare had stabilised. The dairy company has launched an investigation …

Fonterra Cooperative Group, embroiled in a food contamination scandal, has been fined $900,000 for its role in fixing prices for infant formula in China, but says its rivals face bigger penalties. quick easy ways to make money The Auckland-based cooperative was issued an administrative fine of 4.47 million Chinese yuan after the China National Development and Reform Commission finished its …

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Prices of dairy products fell in the latest GlobalDairyTrade auction, while the volume sold jumped to a record, suggesting little if any reaction to Fonterra Cooperative Group’s whey protein contamination scare. The GDT Price Index, previously known as the GDT-TWI Price Index, fell 2.4 percent compared to the last sale two weeks ago. The average winning price was US$4,847 a …

The New Zealand dollar recovered some ground on confidence trade with China would not be as severely affected as first thought by a food contamination scare at Fonterra Cooperative Group, the nation’s largest company. The kiwi rose to 78.05 US cents at 8am in Wellington from 77.71 cents at 5pm yesterday. The trade-weighted index advanced to 74.04 from 73.81 yesterday. …

Fonterra Cooperative Group chief executive Theo Spierings has expressed regret at a Chinese media conference for consumer anxiety caused by revelations that batches of whey protein had been contaminated. The conference was broadcast live on the Reuters livestation website and translated into Chinese. The three contaminated batches were used in the manufacture of infant formula and sports drinks. “We regret …

The New Zealand dollar may decline this week as some traders deem its recent rise above 80 US cents as overdone and as potential damage to exports from a food contamination scare at dairy giant Fonterra Cooperative Group weighs on sentiment. The local currency may trade between 75.50 US cents and 80.60 cents this week, according to a BusinessDesk survey …