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.
He says sustainability will be an enduring feature of farming.
He says Fonterra is moving in the right direction when it comes to improving its environmental footprint right across its business.
Montgomerie believes farmers are also doing their fair share but admits that methane emissions are a hard nut to crack.
He hopes that some technological solutions will come to farmers' aid so that they can have a commercially viable, cost-effective way of reducing emissions.
"It will be brilliant for dairy farming. I understand there's no silver bullet but once our emissions start heading in the right direction, it will provide a lot of comfort for NZ farming families, Fonterra and the banks."
He believes sustainability is crucial to maintain Fonterra's international markets.
"The sustainability piece is most important because of the rise in alternative proteins. If you don't crack the methane emissions issues and you are up against alternatives who don't have the same problems, it is going to be trouble for us."
