‘Soft’ loans, repayable over 10 years, are designed to bring relief to farmers facing massive cuts to the farmgate milk price this year. It’s not happy reading for Fonterra shareholders in New Zealand: they have faced low prices for two seasons, with the prospect of a third season looming. Yet there has been no state support. Instead, Fonterra farmers are still forking out money to supply milk to schools and breakfasts for needy children.
Fonterra suppliers in Australia can dip into a $600 million aid package announced last week by the Federal Government.
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