First Signs of Dairy Co-ops Support Suppliers
GLOBAL – Tough market conditions are prompting cooperatives to offer financial support to members, with Fonterra and Glanbia given as notable examples by UK market analysts.
27 August 2015
1 minute read
Last week's Fonterra initiative announced details of an income support load to provide farmers an extra 50c/kilo of Milk Solids on top of the forecast price.
The Agricultural and Horticulture Development Board has explained that this means NZ$3.85 or 12 pence per litre on top of next season’s forecast price.
This will cost an expected $800 million across the whole season.
Irish processor Glanbia has provided a “top-up” price for suppliers of Glanbia Ingredients Ireland, meaning an extra 1.5 cents per litre for July milk.
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