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.
Last year two farmer nominated candidates won seats ahead of candidates (including one sitting director) endorsed by the Fonterra board and shareholders council. The board anointed candidates also had the blessing of the independent selection panel.
But farmers disregarded that and voted for two self nominated candidates. Two sitting directors are standing again this year.
