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.
The co-op is hosting one of New Zealand’s largest ever community open days, called Open Gate.
Fonterra chairman John Wilson made the announcement at the co-op’s annual meeting in Hawera yesterday.
Wilson says his priority is to continue building Fonterra’s reputation in New Zealand.
At 40 farms across New Zealand, Fonterra farmers will open their gates and welcome the public onto their farms to see first-hand the extraordinary farm systems, our animals, and the hard work of the passionate people behind these businesses, he says.
“It’s an opportunity for people to better understand the leadership that dairy farmers have shown on environmental sustainability, and demonstrate that we can have a vibrant, prosperous dairy industry and positive environmental outcomes.
“Our work in the community, and recent efforts to better tell the story of our cooperative to the rest of New Zealand is helping people to better understand our cooperative.”
According to research, 1.5 million more New Zealanders feel positive about the cooperative today, than last year.
New Zealanders already trust farmers to do the right thing by the country, says Wilson.
“With a deeper understanding of our business, we can expect the continued support of our government, local councils and urban neighbours.”
