Fonterra increases payout

Fonterra has announced a further increase in the payout to its farmer shareholders for the 2009/10 season.

The New Zealand co-operative has increased its milk price by $1.10 to $5.70 per kilogram of milksolids (kgMS). The distributable profit (value return) is 15 cents lower at 35 cents per kgMS.
This means that Fonterra’s forecast of the total amount available for payout increases 95 cents to $6.05 per kgMS.