Fon­terra’s pri­or­ity on milk pay­out

Matamata Chronicle - - Rural Delivery -

Fon­terra’s milk pay­out to farm­ers re­mains the dairy gi­ant’s pri­or­ity, chair­man John Wilson said at an an­nual meet­ing in Palmer­ston North on Novem­ber 12.

But Wilson ad­vised farm­ers to con­tinue to be cau­tious in their bud­get­ing ahead of next month’s up­date of this sea­son’s pay­out fore­cast.

The $ 5.30kg milk­solids fore­cast re­flected the re­al­ity of the global cost of milk pro­duc­tion, but con­sump­tion was ex­pected to grow 36 per cent in­ter­na­tion­ally by 2024.

Wilson said farm­ers’ cash flows would re­main tight through­out next year.

Milk sup­ply had grown from a daily peak of 66 mil­lion litres when Fon­terra was formed in 2001 to 89 mil­lion litres this sea­son.

Milk col­lec­tion was 3 per cent ahead of last sea­son, he said.

Rev­enue grew from $ 12.5 bil­lion in 2001 to $ 22.3b last sea­son, he said.

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