NEW ZEALAND: Fonterra cuts estimated farmer payment for 2001-2002
New Zealand dairy group Fonterra said today [Tuesday] it cannot envisage paying local farmers more than NZ$5.30 (US$2.25) per kilogram of milk solids they supply during the current season that ends 31 May. This will be disappointing news for farmers, who had been told they could expect NZ$5.40/kg as recently as halfway through February. "We have not been spared the effects of Sept. 11 and the slowing of the world economy," said John Roadley, Fonterra's chairman, in a prepared speech.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Column: Kraft Heinz, Unilever and sustainability
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Fonterra cuts earnings forecast