Fair point, IMF is but one segment of the dairy product market.
Fonterra is the world's largest provider of milk powders and that is the base for IMF, it also owns and operates the Global Dairy Trade auction platform which is the primary global platform for trading dairy commodities. Fonterra is a large supplier of commodity products and many of those products go into IMF and other powder products so Fonterra does get a return on IMF products globally just not directly.
I agree MG missed the boat completely in regards IMF but then we come back to the Board asleep at the wheel, the wrong strategy and then employing a wonder bread boy to try to catch up too quickly using all the wrong levers and here we are where we are today, and worse still with no recognition of the errors of late and a plan to change. It is in a right royal mess that no government has any obligation to dig them out of.
By the way on that image I posted earlier, to put some perspective into it the MG turnover in the last financial year was $2.89m (roughly $2.125m in USD) and that is well less than half of the turn-over of the company in 20th position at $5.1m USD.
MGC Price at posting:
$1.19 Sentiment: None Disclosure: Not Held
