Fonterra Shareholders Council gives nod 'with caveats' to new milk supply plan

Fri, 12 Dec 2014

By Fiona Rotherham Dec. 12 (BusinessDesk) - The Fonterra Shareholders Council is “broadly supportive” of plans for the cooperative to start sourcing milk from South Island suppliers who are not also shareholders, with a couple of caveats. Fonterra Cooperative Group, the world’s largest dairy exporter, yesterday announced a new milk sourcing subsidiary, mymilk, which would try to get milk in the Canterbury, Otago, and Southland regions where competition for milk supply is most intense from new suppliers on contracts on up to five years wit...

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