Fonterra chairman John Wilson: the co-op has the strength to support its members.
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Hard-hit Fonterra dairy farmers have the ability to get an extra NZ$0.50/kg milk solids (0.3c/litre) through an interest-free loan.
The co-op’s chairman, John Wilson, said Fonterra was uniquely placed to help farmers because of its underlying strength. He added that the co-operative was providing support for farmers in the form of a loan to help them deal with the present challenging conditions.
Fonterra will give all its share-backed farmers the opportunity to apply for the Fonterra Cooperative Support for milk produced this season.
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The payment is interest free for two years and can be paid back when the milk price goes above NZ$6/kg (25c/litre).
A first payment will be made in October for June to December milk and will continue until May.
If fully taken up, the loan will cost the co-op an estimated NZ$430m for the first six months.
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Hard-hit Fonterra dairy farmers have the ability to get an extra NZ$0.50/kg milk solids (0.3c/litre) through an interest-free loan.
The co-op’s chairman, John Wilson, said Fonterra was uniquely placed to help farmers because of its underlying strength. He added that the co-operative was providing support for farmers in the form of a loan to help them deal with the present challenging conditions.
Fonterra will give all its share-backed farmers the opportunity to apply for the Fonterra Cooperative Support for milk produced this season.
The payment is interest free for two years and can be paid back when the milk price goes above NZ$6/kg (25c/litre).
A first payment will be made in October for June to December milk and will continue until May.
If fully taken up, the loan will cost the co-op an estimated NZ$430m for the first six months.
If you would like to speak to a member of our team, please call us on 01-4199525.
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