Noosa News
Pay rise for dairy farmers as Fonterra announces $32m half-year Australian profit
Dairy farmers supplying dairy company Fonterra in Australia have today received a pay rise, coinciding with the company’s announcement of its interim financial results.
Key points:
- A key Australian dairy processor is going to increase the price it pays to Australian suppliers
- Farmers will get an extra 13 cents per kilogram of milk solids
- Fonterra says a sharp rise in commodity prices allowed the step-up
Suppliers will receive an extra 13 cents per kilogram of milk solids for the 2020/21 year, taking the company’s average farmgate milk price to $6.53c/kgMS.
The company has also released its interim financial results today, showing a 17 per cent increase in normalised earnings before interest and tax of NZ$684 million ($A736 million).
Fonterra…
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