Fonterra urges dairy price lock-in

Last updated 10:38 10/06/2014

Relevant offers


Government moves to make dairy industry more competitive MPI ready to handle foot-and-mouth disease outbreak MyFarm investment company expands into vineyards Vet warns farmers against cheap dairy grazing Manawatu-Rangitikei milk production down Loie and Tony Penwarden are ending their Trewithen Farms sharemilking contract Hawera High School agriculture students visit award-winning Trewithen Farm at Tikorangi Milk production below last season at Westpac Taranaki Agricultural Research Station Specialist Emma Cuttance will tell Taranaki farmers how to manage facial eczema Ballance Taranaki Farm Environment Awards will go ahead in 2017

Fonterra has opened applications for its farmer-shareholders to lock in a price for a percentage of their milk under the Guaranteed Milk Price programme.

The GMP, piloted last season, was designed to give farmers more flexibility to help manage the effects of commodity price volatility and give greater income certainty.

The announcement comes a week after Fonterra announced a new season's opening forecast of $7 per kg milksolid.

Fonterra is offering farmers two opportunities in the new season to secure a GMP on 60 million kg MS - up to 40 million kg MS is available in June, and up to 20 million kg MS is available in December.

There was also a new approach to determine each GMP and allocate the available volume.

Farmers who were looking for a GMP could offer a percentage of their estimated milk production across five prices - $6.60, $6.70, $6.80, $6.90, and $7, Fonterra's director of milk supply, Steve Murphy, said.

Ad Feedback

- Waikato Times

Special offers

Featured Promotions

Sponsored Content