Key points for the fortnight ending 20/09/2013 include:
- Dairy commodity prices defied expectations at this week’s GlobalDairyTrade (GDT) auction (event 101), as bullish results amongst key products drove a 2.4% increase in the GDT price index..
- Vietnam’s largest dairy company, Vinamilk, has publicised its intention to double its annual revenue to US$3 billion (A$3.2bn) by 2017 through overseas expansion.
- Fonterra has increased its forecast for the 2013/14 New Zealand Farmgate Milk Price to NZ$8.30/kg MS (A$7.69/kg MS), citing ‘robust’ demand for dairy commodities which is in turn supporting strong international pricing.
- Since Bega Cheese (BGA) announced its formal takeover bid for Warrnambool Cheese & Butter (WCB) the latter’s directors have issued multiple letters advising shareholders to reject the offer.
- Woolworths (WOW) has launched its trial of Farmers’ Own branded milk, with product on sale in the dairy cabinets of 8 WOW stores on New South Wales’ north coast.