9 Jun 2014

Fonterra offers farmers range of prices

7:10 am on 9 June 2014

Following the success of its pilot Guaranteed Milk Price programme Fonterra is offering its farmer-shareholders a selection of prices that they can lock in ahead of the coming season.

The scheme in the 2013 - 14 season was taken up by 328 farmers who locked in up to three quarters of their milk supply at the opening forecast of $7 a kilo of milk solids.

The price then rose to a high of $8.65 a kilo, before being trimmed back to $8.40 in the recently revised forecast.

Fonterra says that for the 2014 - 15 season its farmers can lock in up to 75 percent of their estimated milk production at five prices between $6.60 and $7.

Fonterra milk tanker

Photo: PHOTO NZ