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Idf Address: Fonterra sees Dairy Prices rising

Idf Symposium Address: Fonterra Perceives Dairy Prices Rising

In a speech delivered, in Paris on September 25 2002, to the International Dairy Federation (IDF) Symposium on the Consequences of the Internationalisation of Dairy Companies, Fonterra Co-operative CEO Craig Norgate delivered a relatively upbeat forecast on dairy prices.

Describing the outlook for the rest of the season as "more encouraging" he said: "The powder markets appear to have turned upwards - finally - and prices have been firming since the beginning of August. Butter demand is also strengthening and I would expect some recovery in cheese and casein prices as well later in the season."

But he cautioned that a full-blown recovery to the price levels of a year ago needed stronger growth in the world economy, specially the United States.

In a speech which attacked the United States and European Union's use of agricultural protectionism, Mr Norgate also drew attention to the debate on geographical indications which he described as "spiralling into absurdity".

While he had no difficulty with protecting legitimate local names for cheeses such as Roquefort or Gorgonzola, he said: "We must recognise that some names - Feta, Parmesan, Emmental and Cheddar - have long been recognised as generic products. The right to continue to produce and market those cheeses must be equally protected."

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