Fonterra drops in Rabobank's annual dairy rankings

Year-on-year average price gains in butter, cheese, milk powders and other dairy products set the stage for double-digit turnover growth. (Image: Fonterra)

Staff reporters

Mon, 04 Sep 2023

Fonterra has fallen three places to ninth in Rabobank’s annual Global Dairy Top 20 ranking.It comes as, the agri-bank’s report found, the New Zealand co-op continued to dispose of non-core assets while adjusting to pressure on milk volume growth.Fonterra’s turnover during 2022 totalled US$14.2 billion (NZ$23.9b) and €13.4b (NZ$24.2b).Early this year, Fonterra sold its Chilean subsidiary Soprole, which resulted in an estimated drop in revenue of about US$800m.The report said that its sale of DPA Brazil – a joint vent...

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