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Home / The Country

Listen: Farmers positive about Fonterra's new direction

The Country
1 Nov, 2018 06:00 PM2 mins to read

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This week Fonterra announced its plans to lift performance, with chief executive Miles Hurrell saying the co-op will be dropping its volume-based ambition to focus on value instead.

Fonterra's Head of Farm Source for Canterbury/Marlborough/Tasman Charles Fergusson spoke to The Country Early Edition's Rowena Duncum about the key points of the co-op's new direction.

Read more: Value not volume for Fonterra says Miles Hurrell

"We're dropping our volume-based ambition ... we're going to really focus on maximising New Zealand milk ... we're going to live more within our means ... we're going to ensure we deliver a respectable return on capital and we're going to supply more realistic forecasting."

Listen below:

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Fergusson says Fonterra is taking every practical step to improve its performance and that the process will take time.

"There is no silver bullet here."

Value has always been a priority for Fonterra and it hasn't always been "volume for volume's sake," says Fergusson, but he admits there has been a "bit of confusion," in the past. Now Fonterra will focus on putting value first.

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Reaction to Fonterra's plans has resulted in "positive" feedback from its farmers says Fergusson.

"So far, they're appreciating what they're hearing."

Also in today's interview: Charles Fergusson talks about whether Fonterra will continue to have milk pools around the world, and how the co-op intends to live within its means.

Discover more

Listen: Fonterra's Open Gates registrations filling up

25 Oct 06:00 PM
Business

Fran O'Sullivan: There's still Miles of work ahead for Fonterra

30 Oct 04:00 PM

The Country - Miles Hurrell edition

31 Oct 12:03 AM

Listen: Value not volume for Fonterra

31 Oct 03:30 AM
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