Sharechat Logo

Fonterra says some disruption to milk collection in North Canterbury

Monday 14th November 2016

Text too small?

 

Fonterra Cooperative Group, the world's biggest dairy exporter, says Monday's earthquake in north Canterbury did not cause any major damage to its manufacturing sites, with all staff safe. 

 

 

However, it expects disruption to milk collection and farms that cannot be reached may have to dispose of their milk. 

 

 

Miles Hurrell, Fonterra's Farm Source chief operating officer, said the Auckland-based cooperative will contact farmers directly if that was required. "We're doing our best to reach everyone who is due for collection immediately. With power out and phone lines down in some areas, that includes putting Farm Source teams on the road to go door to door to try to update those farmers with the latest information," he said. 

 

 

About 30 farms in the Kaikoura region may not have milk collected due to the state of the roads, while others may have late collections as routes are altered, he said. 

 

 

Fonterra previously operated a factory in the town of Kaikoura, close to where the earthquake struck but shut the site earlier this year. 

 

 

NZX-listed dairy group Synlait Milk has also told the market that it is operating as usual. In a statement, it said some of its suppliers are located in the affected areas, and that it is working with them to manage any disruptions. It did not expect the impact of this to be "significant".

 

 

Units in the Fonterra Shareholders Fund rose 0.2 percent or 1 cent to $5.90. They've risen 17 percent since a year ago. Shares of Synlait were unchanged at $3.08. They've risen 28 percent from a year ago. 

 

 

(BusinessDesk)

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar falls; coronavirus spreads to more countries
Looking to $2,000 gold price: Coronavirus is the straw that broke the camel’s back
Hong Kong Stock Exchange Turns From Tough Year to Trading Boom
Treasury 10-Year Yield Tumbles to Record Low on Haven Demand
U.S. Stocks Plunge, Bonds Surge After CDC Warning
26th February 2020 Morning Report
NZ dollar takes a breather, likely to fall further
Hong Kong Stocks Are Trading at Lowest Versus World Since 2004
Stocks Tumble, Havens Gain on Rising Virus Concern
25th February 2020 Morning Report

IRG See IRG research reports