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.
We believe strongly in dairy and this measure is an investment in the future of our Co-op.