Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
“We’re doing everything we can to keep our people and communities safe,” said Fonterra in a Facebook post.
“To help out with the current hand sanitiser shortage we’re making available 250,000 litres of high-grade ethanol to New Zealand companies, and working with the Government to prioritise where that should go.”
New Zealand’s largest co-operative added that it is increasing capacity with a target of producing an extra 220,000 litres of ethanol.
Fonterra says it has teamed up with Gull to test 250,000 litres of their fuel-grade ethanol to ensure it can be used for hand sanitiser.
