In contrast to tightening milk supplies in the EU as a whole, UK milk production has been hitting 20-year highs every month so far this year, according to the UK AHDB.
NZMP, the dairy ingredients brand of Fonterra, has refreshed its risk and commercial solutions, which, during volatile and uncertain market conditions, help customers gain confidence through improved price and supply certainty.
Australian supermarket Woolworths will stop selling milk for $1 per litre, increasing the price of its entire own-branded milk range to $1.10 per litre in a bid to support a more sustainable Australian dairy industry.
A report by Rabobank showed that third quarter 2018 milk production growth sank to just 0.8% year-on-year, and predicts a similar rate for the fourth quarter.
Fonterra is considering sale of its ice cream brand Tip Top and has appointed FNZC as an external advisor to consider a range of options.