Milk Glut Drags Fonterra Forecast Down to $9.20/kgMS
A milk glut around the world shows no sign of easing, putting downward pressure on farmgate milk prices for the next few months.
Speaking at the co-op's annual meeting in Palmerston North yesterday, Fonterra chairman John Wilson described the Waikato farmer as a "hard working director".
"I have personally known Jim as a farmer and director for the past 20 years," he says.
"Apart from being a passionate and highly successful farmer, he has been a hard working director," he says.
Wilson thanked van der Poel for helping drive the co-op's success.
"He was always ready to step and put his shoulder to the wheel to help out the co-op."
Van der Poel thanked farmers for their support during the past 12 years.
"I really enjoyed my time at Fonterra; there were some challenging times," he says.
