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Farmers To Receive Just Rewards

11 April 2008

Farmers To Receive Just Rewards

Fonterra’s announcement of a 40 cent increase in its payout forecast for the 2007/08 year to $7.30 will be welcome news to farmers, coming after a time of severe drought and the hardship that imposed on many farmers, said New Zealand First primary production spokesperson Doug Woolerton.

“The recent droughts have had an extremely taxing effect on farmers, when you factor in the increased costs brought about by the necessity to buy feed for stock, fertilizer and skyrocketing fuel prices, and the ensuing reduction in milk production.

“Although the forecast payout will be welcome news for farmers, many will need every cent in order to recoup losses caused by decreased production and extra costs.

“This announcement also serves as further validation for New Zealand First’s push to keep Fonterra, and our dairy industry, in New Zealand hands. Money that might otherwise find its way into the pockets of overseas investors can instead be used to help keep our farmers in business through the rough times,” said Mr Woolerton.


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