Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
While shareholders at the annual meeting in Waitoa are yet to cast their votes, 54.4% of votes received before 10am on Monday supported the motion.
Former Fonterra directors Colin Armer and Greg Gent spoke in favour of the motion at the meeting today. However, it will not reach the 75% threshold required to change the constitution.
Fonterra's board and the Shareholders Council are opposing the motion.
More to come
