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.
Charles Fergusson, Fonterra Regional Head Canterbury Tasman and Marlborough, told Rural News that the co-operative is “pulling all the stops to collect the milk where we can, but it’s really important that people stay safe right now”.
Ongoing road closures mean milk collections continue to be impacted across the region, but Ferguson says tankers are reaching farms as roads open and it is safe to do so.
“While this isn’t the busiest time of year for milk collections, farmers are in the midst of calving – which is really tough with so much water on the ground,” he says.
“We’ll be looking to assess how we can support farmers as the water recedes.”
Fonterra’s Tākaka and Brightwater sites are still processing milk, but some tankers have been diverted to Darfield.
 |
|---|
|
Road closures in the region have impacted milk collections across the region. |
Rai Valley Farm Source Store closed yesterday as water levels rose, but doors opened again this morning.
Fonterra’s regional head Northland Mike Borrie says milk collections are still being disrupted by flooding in the Far North.
“The team is closely monitoring road access and will work to get tankers to farms as soon as possible,” he told Rural News.
