Fonterra bombshell: $675m loss looms, no dividend
Fonterra is signalling a full-year loss of up to $675 million for 2018-19.
The Queensland Dairy Farmers’ Organisation is calling on Australians to support an A10 cent/L milk levy to help farmers struggling with the drought and skyrocketing fodder costs. At least 21,000 people have signed a petition so far, declaring their support. The farmers hope strong consumer support will pressure the Australian supermarket duopoly -- Coles and Woolworths -- to raise the price of milk to A$1.10/L and pass the extra 10c back to farmers via the processors. Wouldn’t it be easier for processors to return an extra 10c to farmers and then claw back the money from the supermarkets? Or are the two supermarket chains too powerful for the processors, including Fonterra?
