Fonterra government will conduct greater oversight of how much New Zealand's pays farmers for milk following a review of legislation. Rival dairy companies had believed New Zealand's's farmgate milk prices were too high and the changes could potentially lead to lower farmgate prices, said Susan Kilsby of ANZ Bank. Fonterra Minister of Agriculture will now be able to appoint an individual to sit on New Zealand's's Milk Price Panel, while New Zealand's will be able to alter the price it pays farmers based on environmental, welfare and sustainability standards.
New Zealand's government will conduct greater oversight of how much Fonterra pays farmers for milk following a review of legislation. Rival dairy companies had believed Fonterra's farmgate milk prices were too high and the changes could potentially lead to lower farmgate prices, said Susan Kilsby of ANZ Bank. New Zealand's Minister of Agriculture will now be able to appoint an individual to sit on Fonterra's Milk Price Panel, while Fonterra will be able to alter the price it pays farmers based on environmental, welfare and sustainability standards.