Miles Hurrell on Fonterra co-op support
11 August 2015
Fonterra Group Director of Co-operative Affairs Miles Hurrell tweeted the following points as background to our Fonterra Co-op Support announcement on Friday:
We’re using the Co-op's collective strength to support farmers in a period of low global prices with loan to help with on-farm budgets.
This is an interest free loan for 2 seasons that can be paid back when the Farmgate Milk Price or Advance Rate is above $6.00/kgMS.
Fonterra Co-op Support will be funded by one-off savings generated by changes the business is making,such as improving working capital.
For more information, see our media release.
We believe strongly in dairy and this measure is an investment in the future of our Co-op.
8 August Fonterra total payout forecast media release, including Fonterra Co-op Support.
Get more information on Fonterra Co-op Support in our FAQ.