Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
Anne Douglas, group director of Fonterra-owned Farm Source told Rural News that damaged roads and bridges have cut off tanker access to these farms.
“Collections are largely back on track, however a small number of farms in Hawke’s Bay have had to dry off as our tankers cannot access them due to damage to roads and bridges,” says Douglas.
“We continue to helicopter our people in to cut-off areas to provide assistance.
“Our focus is on establishing lines of communication with our farmer shareholders in the hardest hit areas so that we can stay connected, understand what they need and help coordinate recovery efforts.”
Fonterra is working closely with local industry bodies and representatives to co-ordinate support on the ground where needed as they always do when adverse weather strikes.
Local Farm Source teams have been reaching out to farmers to check in on them, and reminding farmers that they can call its 24/7 Farmer Support Team to get any on-farm support they may need.
Farmers have also been encouraged to contact the Rural Support Trust if they feel like they’re struggling.
