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Fonterra Result Pleasing

Fonterra Result Pleasing

Fonterra Cooperative Group’s increased forecast payout is good news that will help restore incomes dented by lower production in many regions, said Kevin Wooding, Chairman of Dairy Farmers of New Zealand.

“It is really pleasing that dairy farmers are being rewarded after a difficult season brought about by unseasonally cool weather in spring and early summer,” Mr Wooding said.

His comments follow Fonterra announcing a 20 cent increase in forecast payout for 2004/2005 to $4.50 per kilo of milk solids

DFNZ is the dairy industry group of Federated Farmers of New Zealand (Inc). It is today and tomorrow holding its National Council meeting in Hamilton.

Mr Wooding said the increased payout would help farmers meet higher on farm costs such as rates, energy, fertiliser, and labour.

“The increase also has to be measured against a backdrop of rising compliance costs due to the ever-increasing array of red tape coming out of legislations like the Hazardous Substances and New Organisms Act and the Building Act,” Mr Wooding said.

He cautioned farmers against assuming that international commodity prices would remain at high levels.

“Farmers must factor this into their decisions when setting budgets for next year,” said Mr Wooding.

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