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Fonterra Comments On Commerce Commission Ruling

Fonterra Comments On Commerce Commission Ruling

Following a decision by the Commerce Commission, that it will investigate an application from Independent Dairy Producers Limited (IDP) in respect of the price IDP has been required to pay Fonterra for raw milk, Fonterra Co-operative Group has restated its view that it believes it has complied fully with the Raw Milk Regulations and behaved very fairly towards IDP.

“While continuing to work positively with the Commission’s investigation Fonterra believes it has met the requirements of the regulations and is disappointed that IDP does not believe it has been treated fairly,” said Alison Andrew, General Manager NZMP (NZ).

“IDP had significant amounts of money owing, rather than close them down Fonterra continued to supply milk on agreed terms that were within the market range. IDP paid the agreed price and traded out of its difficulties, it now seeks to revisit that agreement.

“We look forward to being able to meet with the Commission to present the facts as we see them.”

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