Sugar hit
OPINION: Winston Peters has described the decision to sell its brand to Lactalis and disperse the profit to its farmer shareholders as a 'short sighted sugar hit'.
The co-op has announced a raft of measures to boost farmer cash flow in the new season, bringing forward milk payments from June.
Monthly payments will be made on the 15th of the month from June, compared to the 20th currently. Final settlement (wash up payment) will be no later than five working days after its annual results announcement.
Advance rate guideline from July will start at 65% of the mid-range for the payout forecast.
After enjoying $6-plus payouts for the past four years, Fonterra farmers are being told to brace for a drop in milk payout next season.
