Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
The co-op is currently tracking 8% down on last season on a weekly basis.
Fonterra chairman John Wilson says farmers are responding to the tough economic conditions.
"With cow numbers down, less supplements being fed and challenging weather conditions for much of the country, we now expect production to be down by more than 5% for the season," says Wilson.
Last year, the co-op collected 1,614 million kgMS, up 2% on the previous season.
