Landcorp disappointed Fonterra to end guaranteed price that underpinned 2015 earnings

Fri, 02 Oct 2015

By Jonathan Underhill Oct. 2 (BusinessDesk) - Landcorp Farming says it is disappointed that Fonterra Cooperative Group is to stop offering a guaranteed milk price (GMP), which has helped New Zealand's largest corporate farmer manage price fluctuations and prevented an even bigger slump in 2015 earnings. Fonterra said this week that it will make its last GMP offer in December, for milk production through to the end of the 2015/16 season. When the programme was piloted in the 2013/14 it was the only price risk management tool available for...

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