Smaller co-ops outdo Fonterra with payouts

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Hokitika dairy co-operative Westland Milk Products and Waikato’s Tatua outperformed their far larger competitor, Fonterra, for farmer payouts over the 2012/13 year.
 
Westland Milk, the country’s second-biggest co-operative after Fonterra, said its 2012/13 operating surplus was $6.34 per kg of milk solids, with a retention of 30c on top of that. That compares with a $6.14 per kg payout, with a 10c retention, in the previous year. Retention is when a co-operative withholds part of the farmer payout for future development.
 
In the North Island, the tiny Tatua Co-operative Dairy Co said its payout for 2012/13 was $7.40 per kg of milksolids, down 10c on the previous year. Tatua declared a pre-tax retention of $1.17 a kg, taking the total to $8.57. The payout compares with Fonterra’s cash payout, announced last week, of $6.16, which comprised a farmgate milk price of $5.84 and a dividend of 32c a share. There were no retentions in the Fonterra result.
 
Westland chief executive Rod Quin said the co-operative had endured tough farming and trading conditions over the year.
 
In spite of the impact of a major flood on South Westland, then one of the worst droughts in living memory for most of the West Coast, milk volumes from shareholders were up 5.7 per cent at 621 million litres.
 
Turnover remained steady at $535 million
 
Source: NZ Herald

Mirá También

Así lo expresó Domingo Possetto, secretario de la seccional Rafaela, quien además, afirmó que a los productores «habitualmente los ignoran los gobiernos». Además, reconoció la labor de los empresarios de las firmas locales y aseguró que están «esperanzados» con la negociación entre SanCor y Adecoagro.

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