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Small Dairy Companies Outshine the Giant.


24 July 2002 PR098/02

Small Dairy Companies Outshine the Giant.

Tatua Dairy Company must be congratulated for its excellent performance and setting the standards for the rest of the diary industry, says Dairy Farmers of New Zealand Chairman Kevin Wooding.

Tatua has announced a payout of $6.80 per kilo of milk solids, Westland Dairy Co-operative $5.43 per kilo of milk solids. Fonterra will pay $3.70 per kilo of milk solids.

"The decision to stay out of Fonterra will deliver significant advantages to Tatua shareholders, said Mr Wooding. "Dairy farmers have consistently been told of the need for expansion, but these payouts show that big is not necessarily beautiful.

"Tatua and Westland have stuck to their knitting and outperformed the rest of the industry by a country mile.

"The industry needs to see some of the advantages of being large flow back to farmers. No doubt Fonterra directors and management will have all manner of excuses, but at the end of the day they are not at the mercy of quota markets."

ENDS


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