NEW ZEALAND: Westland Milk pays farmers record high in 2001-02
For the dairying season ended 31 May, dairy processing giant Westland Milk Products paid its farmer shareholders a record NZ$5.43 (US$2.58)/kg for milk solids. The Wellington-based firm explained in a statement released earlier today [Tuesday]: "High levels of production, with Westland Milk Products processing 337 million liters of milk from its suppliers, and favourable commodity prices and exchange rates in the early part of the season have generated revenue of NZ$186.7m."
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