Fonterra
(ASX:FSF) has provided a global dairy update to shareholders on its international milk manufacturing operations.
The New Zealand based company says it has seen increased production in the US and some recovery in the EU and New Zealand.
However comparatively, the EU and Australian markets are lagging behind with volumes remaining soft.
Australian production fell 7 per cent for the year to March 2017, while Europe fell 2 per cent.
However Fonterra says it is set to benefit from new high-tech weather stations, designed to bring great precision to dairy farming in NZ.
Shares in Fonterra closed up 0.35 per cent at $5.67.
