Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Applications Open for Fonterra Farmers to Lock in GMP

3 June 2015
Applications Open for Fonterra Farmers to Lock in Guaranteed Milk Price


Following last week’s announcement of the 2015/16 forecast Farmgate Milk Price, applications are now open for Fonterra farmers to lock in a Guaranteed Milk Price (GMP) for a percentage of their milk.

There are two opportunities in the 2015/16 season to secure a GMP on 60 million kgMS – up to 40 million kgMS is available in June, and up to 20 million kgMS will be available in December. Farmers who are looking for a GMP can now apply to supply some of their estimated milk production across one or more of five prices ($5.25, $5.15, $5.05, $4.95, and $4.85) at and below the 2015/16 forecast Farmgate Milk Price.

The application period runs until 5pm on Friday, 19 June. Once the applications close, the total kgMS offered by all applicants at each price will be totalled. Allocations will be made based on the prices at which milk solids were offered from the lowest price up and the GMP will be determined at the highest price at which a total quantity of milk solids in a specified range is reached.

Fonterra’s Head of Origination, Arron Atkinson, said farmers have the option to apply their volumes across one or more of five prices at and below the 2015/16 forecast Farmgate Milk Price. This process allows for the prioritisation of allocation in the event that the GMP is oversubscribed.

“All accepted applications will receive the same Guaranteed Milk Price. However, it’s important to note that depending on the total milk solids offered at each price, some farmers may not get all or any of the volume they offered,” he said.

For applications made in June, farmers can apply to fix a GMP for between 10 per cent and 75 per cent of their estimated milk production for the 2015/16 season.

The second GMP opportunity will be available in December for production supplied 1 December 2015 to 31 May 2016.

Applications can be made online via Farm Source or interested farmers can request an application pack from Fonterra’s Supplier Services team on 0800 65 65 68.


- ENDS -

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Snail's Pace: Aucklanders Face Frustrating Commute Over Harbour Bridge

Journeys into Auckland's CBD took longer than usual as traffic banked up around the damaged Harbour Bridge. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO:

SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>

ALSO:

FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>