An independent report for the Fonterra Shareholders Council has found the co-operative hss failed to deliver meaningful returns to farmers. Photo: Getty ImagesFonterra's financial performance since its inception has been "unsatisfactory", a report has found. The report, commissioned by the Fonterra's Shareholders' Council and prepared by Northington Partners, was released this week. Fonterra was formed in 2001 from a merger of two major dairy co-operatives, Kiwi Co-operative Dairies and the New Zealand Dairy Group, with the New Zealand Dairy Board. Given the increased competition for milk in New Zealand, Fonterra needed to "do better" to earn the trust of farmers, the report said.

Source: Otago Daily Times November 08, 2018 15:33 UTC