What is wrong with this picture: Fonterra half-year profit soars to $409m, but no relief package for farmers

  • Fonterra’s half-year profit has more than doubled to $409 million, bringing welcome news to struggling farmer-shareholders.

While the co-operative will pay dividends earlier than usual, it has not announced any specific relief package for those feeling the squeeze of low dairy prices.

Fonterra’s net profit soared 123 per cent in the six months to January 31.

Earlier this month, it announced it was dropping its milk payout forecast to $3.90 per kilogram of milk solids.

READ MORE:
* Support loans cast shadow on Fonterra half-year result
* Fonterra bill payment extension criticism grows
* Fonterra says it is feeling the pain alongside farmers, contractors
* Row grows over Fonterra’s decision to take more time paying suppliers
* Contractors scared to speak out over Fonterra payment changes
* Fonterra cuts milk payout forecast to $3.90 a kilo

Theo

CHRISTEL YARDLEY/FAIRFAX NZ
Fonterra chief executive Theo Spierings dairy prices were likely to lift later this year.

READ MORE VIA STUFF

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