Welcome to our Quarterly Update.
The below headlines summarise key workstreams undertaken by Council on your behalf over the last quarter. Further detail can be found by clicking the below link through to the full Update.
REPRESENTING FONTERRA FARMERS:
On your behalf we have:
• passed on your feedback to the Board including on Farmgate Milk Price forecasting, on-farm profitability and cashflow concerns, concerns relating to the recent Farm Source team changes, concerns around the impacts of this year’s extraordinary weather events on Co-operative Difference achievement, questions regarding the decision to suspend minor Fat Evaluation Index (FEI) downgrades, and organic supplier concerns.
• finalised the 2023 Letter of Members’ Expectations to the Board.
• asked the Board to provide you with an update on the expected timing of the announcement of the Scope 3 target, to report to you on the alignment between milk supply and share ownership, and to engage with you when taking advocacy positions on matters that may impact ‘behind the farm gate’.
• requested visibility of Management’s measures for assessing the effectiveness of the recent Farm Source team changes.
• questioned Board and Management on the FY23 Annual Results and commissioned independent analysis of those results.
• met with the auditor to discuss their FY23 audit engagements, and
• met with the Milk Price Panel to discuss the 2022/23 season farmgate milk price and the Panel’s 2023/24 season work programme, and to consult on the proposed 2023/24 season Milk Price Manual changes.
TELL US WHAT YOU THINK:
Click on the link below to complete a short survey.