date:May 26, 2016
s a 34.1 per cent drop on the previous 2014 corresponding period.
The first half has seen the continuation of the decline in Chinese imports of commodity dairy ingredients and the ongoing Russian embargo on dairy imports, said CEO Helou at the time.
This has been compounded by increased European milk supply, resulting in a period of significant oversupply in global dairy commodity markets, driving commodity prices towards record lows, Helou said.
Yet, at the same time, Fonterra managed its ow