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Transcript of Global Dairy Markets: The Foremost Farms Experience Doug Wilke Foremost Farms USA Vice...
Global Dairy Markets:The Foremost Farms Experience
Doug WilkeForemost Farms USA
Vice President-Marketing & Technology
A Snapshot of Foremost Farms
Established: 1995
Member Milk Volume: 5.7 billion pounds
Member-Owners: 1,900
FY 2011 Revenues: $1.7 billion
Employees: 1,100
Rankings: No. 8 in milk volumeamong U.S. dairy cooperativesNo. 20 (Dairy Foods magazine)
in annual sales among Top 100 U.S. dairy processors
Major Manufacturer & Domestic Marketer of Cheese
• 9 cheese plants
• Over 500 million lb. Cheese
• One of the largest Mozzarella cheese producer in U.S.
• Over 25 varietieso 75% Italiano 25% Americano Industrial (30%); foodservice 30%) and retail (40%)
Our Ingredient Business is Global
Produce approximately300 million pounds ofdairy ingredients for these target markets:
infant formula bakery/pizza pharmaceutical food feed
Butter – 35 million pounds
Primary Products Exported
• Whey protein products• Pharmaceutical lactose• Demineralized whey• Permeate• Some cheese and butter
Our Customers are Global Players
• Three of the five largest infant formula providers
• Kerry Bio Science Global food and pharmaceutical company Long-term agreement on pharmaceutical
lactose
• James Farrell & Co. International trading company Our marketing partner for ingredient exports
Ingredient & PharmaIngredient & PharmaPharmaPharmaIngredientIngredient
Exports as a % of ingredient sales2011: 31.9%2010: 29.9%2009: 26.5%
Exports as a % of ingredient sales2011: 31.9%2010: 29.9%2009: 26.5%
Ingredient Export Map
There’s Opportunity for “US”
• Globalization is here to stay• World dairy demand will outpace supply• Imbalances will drive volatility• U.S. has finite window of opportunity before
other suppliers emerge• Some structural constraints keep the U.S. from
being a consistent supplier• Maintaining status quo will weaken U.S. industry
The Keys to Success• Work more closely with buyers to better
understand their needs• Make the commitment to be a consistent seller
to global markets Adjust underlying policy and regulatory influences Build partnerships to market dairy ingredients to
global buyers Develop the products that better meet buyers’
specifications and quality requirements Help buyers manage price volatility Serve global buyers in good years and in bad