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Good News for Fonterra Suppliers

10 December 2003

PR 254/03

Good News for Fonterra Suppliers

Fonterra suppliers should be relieved to hear news of a higher payout, says Dairy Farmers of New Zealand Chairman Kevin Wooding.

Dairy company Fonterra Co-operative Group has announced a lift in its payout forecast by 20 cents to $4.15 per kg milk solids for the current season.

"Increasing international dairy product prices and demand for their products has meant Fonterra has managed to deliver their suppliers a better result than anticipated.

"Fonterra's announcement would be even better if dairy farmers could have value sooner rather than later, by increasing the advanced payout.

"Much of the impact of the high New Zealand dollar will be felt next season, and I urge Fonterra suppliers to be aware of this and plan accordingly.

"The challenge ahead for all dairy farmers, Fonterra suppliers or not, is to remain competitive in a highly subsidised international market place," Mr Wooding concluded.

ENDS

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