There has been a 14 and 57 per cent surge in the price of beef and dairy products in the US, respectively. And because of the rise, the yearlong demand in these two categories from the foreign shores has ended.
The biggest buyers for these categories of products were South Korea, Japan and Canada. Total worth of the deal was close to 185.6 million pounds and was up from 162.4 million pounds they had last year.
Fonterra Cooperative Group is the world's biggest dairy exporter. Now it is looking at opportunity in India. India is the world's second-most populous nation, and has decided to carry out a practicability study for a pilot farm.
Packaging giant Tetrapak is chosen by Canterbury dairy company Synlait as the main contractor for its second processing plant. It has targeted for ordering from the next September.
Synlait held that there are certain conditions for its second plant; it has to produce 10.5 tonnes of whole milk powder per day or 8 tonnes of infant formula.
Soon after the dairy worker was dismissed under the 90-day employment probation period, the union said that it was a case of the skilled employee who was later driven out of New Zealand.
Dairy Workers Union secretary James Ritchie is of a view that this is perhaps the first case wherein he has seen the employment clause is being used to dismiss a dairy worker.
The tough New Zealand dollar has pushed Fonterra to grasp its prediction payout for the 2010/11 season at $6.60 a kg of milk solids as the elevated kiwi handles the effect of rigid commodity costs.
Fonterra chairman Sir Henry van der Heyden expressed that there dairy market costs were gripping it nicely than initially thought, guiding the board to consider an rise in the forecast milk price.
Kraft Foods Incorporated has declared that its current quarterly revenue is below their expectations and much weaker than what they had forecasted. The primary reason for this dip in revenue is the fall in sales. In fact, sales have fallen considerably after the raised the costs of consumer products in order to match the hike in the price of ingredients which ultimately led to a rise in the total cost of production.
Good News USA
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