Fonterra farmers scaled back on guaranteed 2014 milk price

Tue, 09 Jul 2013

July 9 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, has scaled back applications from its farmers to sell milk at a guaranteed price in the 2013/2014 season after being overwhelmed by demand. In a pilot scheme announced last month, Fonterra offered to pay $7 per kilogram of milk solids, matching its initial forecast payout, for those farmer-shareholders wanting to lock in payment certainty for the 2014 season. It had expected about 200 farmers to participate. Today it said 328 farmers had offered to supply...

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