Landcorp, keen user of Fonterra's guaranteed milk price, looks to reduce dairy exposure

Tue, 26 Aug 2014

By Jonathan Underhill Aug. 26 (BusinessDesk) - Landcorp, New Zealand's biggest corporate farmer, has been an enthusiastic participant in Fonterra Cooperative Group's guaranteed milk price scheme as it reduces exposure to volatile dairy prices, while looking at ways to reduce the dominance of dairy in its portfolio. The state-owned farmer's milk revenue soared 70 percent to $129 million in the year ended June 30, contributing to a more-than doubling of operating profit to $30 million. It won't see a similar benefit from dairy prices in the...

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