ACT MP and dairy farmer Penny Webster today warned dairy farmers to be extremely cautious when voting on the future of their industry.

"Farmers must be wary of empty promises being made today, which will not be delivered on tomorrow.

"Many farmers are concerned at the flaws inherent in the GlobalCo model, but will vote for the proposal in the hope that faults can be ironed out later.

"However, there will be no pressure on GlobalCo executives to do anything after the vote has taken place. Quick-fixes will be next to impossible.

"Many farmers I have spoken with at the Fieldays recognise that GlobalCo's aim of being one of the top five dairy food companies in the world is impossible - the necessary extra $60 billion of supplier capital simply does not exist.

"Farmers are also scared that the creation of a monopoly is going to backfire on them. Opt-out clauses are complicated and most farmers are going to be stuck with what GlobalCo offers them.

"Farmers must be wary today, if they are to avoid financial ruin tomorrow," Penny Webster said.

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