Fonterra Lifts Farmgate Milk Price
Good news for Fonterra farmers. The co-op has raised this season’s farmgate milk price mid-point by 25c to $9.75/kgMS.
Shareholder meetings have ended, management have made their case and the ball is now in the farmers’ court.
Not all Fonterra farmers back the divestment, which will see Lactalis paying $4.22 billion for the co-op’s consumer and related businesses.
Expect some farmers to vote from their heart and oppose the sale – voting to keep these iconic brands in NZ hands.
But Fonterra is expecting a majority to say yes. The co-op requires 50.1% support from those who vote – a threshold they should easily achieve.
