Tuesday, 15 November 2022 10:30

$27m settlement

Written by  Milking It

OPINION: Fonterra is forking out $27 million to pay Victorian farmers to settle class action proceedings across the ditch.

The case arose from claims by several farmers in the state of Victoria that Fonterra had breached the terms of its supply contracts and misled suppliers when it moved to cut milk payouts in 2016.

The farmers claimed Fonterra's milk payout was based on meeting or exceeding those of competitor, Murray Goulburn, rather than in line with their supply contracts.

Murray Goulburn cut its forecast price by as much as 15% and shortly afterwards Fonterra moved to cut its payout by nearly as much.

The co-op says the settlement is made without any admission of liability.

More like this

Misguided campaign

OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is polluting the environment.

Fieldays goes urban

OPINION: Once upon a time the Fieldays were for real farmers, salt of the earth people who thrived on hard yakka.

Tough trade

OPINION: Known for serious trade negotiations with global politicians, top NZ trade official Vangelis Vitalis also knows how to crack jokes.

King's Honour stuff

OPINION: The release of the King's Birthday Honours list would normally be Milking It's cue to moan about how agriculture, the backbone of the economy, had again been overlooked.

Featured

Brendan Attrill scoops national award for sustainable farming

Brendan Attrill of Caiseal Trust in Taranaki has been announced as the 2025 National Ambassador for Sustainable Farming and Growing and recipient of the Gordon Stephenson Trophy at the National Sustainability Showcase at in Wellington this evening.

National

Machinery & Products

Farming smarter with technology

The National Fieldays is an annual fixture in the farming calendar: it draws in thousands of farmers, contractors, and industry…

RainWave set to cause a splash

Traditional spreading via tankers or umbilical systems have typically discharged effluent onto splash-plates, resulting in small droplet sizes, which in…

» Latest Print Issues Online

Milking It

Misguided campaign

OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is…

Fieldays goes urban

OPINION: Once upon a time the Fieldays were for real farmers, salt of the earth people who thrived on hard…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter