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Forecast A Heads Up For Government

27 May 2005
PR 079/05

Forecast A Heads Up For Government

The government should take note of Fonterra Co-operative Group's forecast payout for the 2005/6 season, said Kevin Wooding, Chairman of Dairy Farmers of New Zealand (DFNZ).

Fonterra today announced a forecast payout for 2005/06 of $3.85 per kg of milk solids, well below the expected $4.50 final payout for the 2004/5 season.

"Any payout under $4 a kilogram next season is going to impact significantly on dairy farmers, who are facing substantially higher compliance costs and new taxes," Mr Wooding said.

"The government wants growth in the economy and Fonterra wants milk supply growth of three percent a year. Neither of these things can be achieved if farmers have reduced ability to invest in their business.

"Poor quality government expenditure and rampant rates hikes by councils are pushing up inflation, and the government is adding more costs through higher taxes on fuel.

"It's time that the government got back in touch with the country's dependence on agriculture, as it thinks up its schemes to harvest votes from urban New Zealand," Mr Wooding.

ENDS


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