Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Two Farm Source shops are also closed as a result of flooding risk.
Fonterra’s regional head Southland/Otago, Mark Robinson told Rural News that the co-op was working with farmers in impacted areas and connecting with Civil Defence and local authorities.
“Our focus is on making sure our farmers and employees affected by the flooding are safe,” he says.
“We will be supporting Civil Defence in their efforts to support the local communities.”
Robinson says milk collection has been disrupted with a number of road closures and flooded access ways.
“Many farms are flooded – so obviously a stressful time for farmers. We will be doing everything we can to support them.”
