Tuesday, 03 November 2015 12:52

‘Millions in value’ from Farm Source

Written by 
Jason Minkhorst. Jason Minkhorst.

Fonterra says Farm Source has delivered millions in value to more than 9000 Fonterra farmers since its launch in Methven a year ago.

Farm Source Stores director Jason Minkhorst says farmers have already earned $5.7 million in Reward Dollars through Fonterra Farm Source.

They are on track to deliver $14 million in discounts on key products by the end of this year, he says.

"Fonterra Farm Source was created to make the most of the unity and strength of our cooperative and provide a whole new level of support for our farmers. We've combined services, expertise, rewards, digital technology and financial options together with local Farm Source hubs to support the major dairying regions throughout the country," says Minkhorst.

Since its launch, Fonterra Farm Source has introduced:

· Seven new heads of cooperative affairs leading regional teams, providing better on-the-ground support to farmers

· Farm Source Stores, or Hubs, within the regions with a new level of services, deals and facilities

· A rewards programme that offers exclusive deals for Fonterra farmers

· Discounts creating significant savings for farmers on fuel, phone, power, telecoms and more

· Tools and services to help farmers manage the financial side of their businesses

· A digital platform providing access to key farming information, advice, support, products, deals and rewards online, on mobile, on demand.

Minkhorst says the numbers show Fonterra Farm Source is well placed to support farmers through unprecedented market volatility.

"Our stores have maintained very good performance in a tough environment, increasing our market share significantly.

"While global volatility has affected both our milk price and earnings, we have been able to introduce initiatives to support the co-op's farmers through this period."

Minkhorst says, in addition to the value delivered through discounts and rewards, more than 6000 farmers have benefited from Farm Source Store interest-free deferred terms, and 75% of shareholders applied for the 50 cent Cooperative Support loan.

"These initiatives give us a real point of difference and show the strength of being part of the co-operative."

More like this

Fonterra trims board size

Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.

Returns 'not good enough'

Fonterra leaders are making their case for offloading the co-operative's $3 billion consumer business, noting that its return on capital has been nowhere near respectable.

Record milk price!

A record farmgate milk price for Fonterra shareholders is all but confirmed for this season.

Chinese strategy

OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.

Featured

Massey Research Field Day attracts huge interest

More than 200 people turned out on Thursday, November 21 to see what progress has been made on one of NZ's biggest and most comprehensive agriculture research programmes on regenerative agriculture.

Expo set to wow again

Stellar speakers, top-notch trade sites, innovation, technology and connections are all on offer at the 2025 East Coast Farming Expo being once again hosted in Wairoa in February.

A year of global challenges

As a guest of the Italian Trade Association, Rural News Group Machinery Editor Mark Daniel took the opportunity to make an early November dash to Bologna to the 46th EIMA exhibition.

National

OSPRI's costly software upgrade

Animal disease management agency OSPRI has announced sweeping governance changes as it seeks to recover from the expensive failure of…

Machinery & Products

BA Pumps expand

Cambridge based BA Pumps & Sprayers, specialists in New Zealand-made spraying equipment, has acquired Tokoroa Engineering’s product range, including the…

Entries open for innovation award

Fieldays and its renowned Innovation Awards are celebrating their 57th year, marking a longstanding tradition in the agricultural calendar, with…

» Latest Print Issues Online

Milking It

Chinese strategy

OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.

Not fair

OPINION: The Listener's latest piece on winter grazing among Southland dairy farmers leaves much to be desired.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter