Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
Addressing Fonterra’s annual meeting in Canterbury this month, chief executive Theo Spierings noted that the co-op did not cut corners or go back on its commitments.
He pointed out that Fonterra keeps on with Milk for Schools, the Living Water programme and dairy development worldwide.
“Once you start cutting corners… you lose trust; we have not cut a penny from those programmes,” Spierings told farmers. “We coped with changes, but we kept on investing in communities.”
Milk for Schools reaches 70% of New Zealand primary schools; 140,000 primary students drink Anchor milk daily.
Living Water is a partnership between Fonterra and the Department of Conservation, working to improve biodiversity and water quality across NZ; the work continues in five sensitive catchments.
The co-op’s dairy development programme helps the growth of sustainable dairy industries in key markets around the world, helping farmers to produce more milk, profitably and safely.
