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.
The proposed new shareholder loyalty programme will go ahead as planned, but rebranding of the stores and milk tankers and other such changes to the ‘paint job’ are on hold until the payout recovers.
At the recent South Island field days the new Farm Source brand had replaced the RD1 nameplate, but compared to the bright orange and green livery of RD1, the new branding was almost invisible.
