Fonterra says farmer loan support package will cost $390 million

Fri, 27 Nov 2015

By Fiona Rotherham and Tina Morrison Nov. 27 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, has said the cost of its loan support package to farmers struggling with a low dairy payout will be $390 million. Speaking at the Fonterra Shareholders’ Fund annual meeting in Auckland today, chief financial officer Lukas Paravicini reassured unit-holders that the loan package made no difference to shareholders’ dividends because it would be repaid over time. The loan is being funded from working capital after o...

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