Milk price certainty
Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following two seasons.
It was revealed this month that the Treasury argued against the Government lending Westland Milk Products $9.9 million but its advice was ignored. One reason the Treasury was against the loan was because Westland was having problems obtaining a loan from its bank on acceptable terms and the Government would then be acting as a lender of last resort.
The money had not been handed over as contract negotiations were continuing.
