Fonterra has been open in its communication with farmers about the disappointment of its Annual Results this year, says Mike Borrie.

"I do believe that we've certainly fronted up from a management and board perspective."

Fonterra's Head of Farm Source for Northland spoke to The Country Early Edition's Rowena Duncum about how the results have been communicated to its farmers.

Borrie says an email which was "very clear around the disappointment," was sent from chairman John Monaghan on the day of the results and Fonterra has also held 20 shareholder meetings around the country to connect with its shareholder farmers.

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"Fonterra is a big part of our country, we play a big part in the community and the economy ... we're a little unique as well, we're owned by 10,000 farming families and our poor performance is more than just numbers."

"Our performance this year wasn't good enough and we must improve."

It's not all bad news, as Borrie points out that Fonterra's milk price is still healthy and that projects such as Milk for Schools and Grassroots Fund shows a positive face of the co-op in the community.

Also in today's interview: Mike Borrie tells Rowena about Whittaker's and Tip Top's new ice cream hitting store shelves this week and what's coming up on Fonterra's calendar.