Fonterra Fonterra has reported a 10% YoY drop in domestic production during April , as dry weather dogged the dairy cooperative. The figure followed a 10% decline in Australian output in March , alongside a 10% slide in exports. Shares of Fonterra on Thursday traded as much as 2.5pc lower to touch a record low, on track for their third consecutive session of losses. In contrast, March shipments from New Zealand rose 10% YoY , thanks to strong demand from key Australian markets. In early May , Fonterra trimmed its annual earnings outlook and announced the closure of a more than 100-year old Australian site, due to dry weather.
Fonterra Fonterra has reported a 10% YoY drop in domestic production during April , as dry weather dogged the dairy cooperative. The figure followed a 10% decline in Australian output in March , alongside a 10% slide in exports. In contrast, March shipments from New Zealand rose 10% YoY , thanks to strong demand from key Australian markets. In early May , Fonterra trimmed its annual earnings outlook and announced the closure of a more than 100-year old Australian site, due to dry weather.