18 Sep 2020

Northland farmer responds to the Fonterra profit announcement

From Afternoons, 1:49 pm on 18 September 2020

Fonterra has posted a profit of $659 million as restructuring, improved sales and margins helped it recover from the previous year's massive loss.

Fonterra's chief executive Miles Hurrell has said the result reflects strong milk prices as well as the drastic measures it had been forced to take last year.

That included selling overseas assets, shutting down underperforming local plants, cutting debt, and reduced its costs.

Northland dairy farmer, Evan Smeath breeds jersey cows and tells us how this will affect him.

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Photo: RNZ / Alexa Cook