Fonterra backs young farmers with MyMilk expansion
Dairy co-operative Fonterra has announced plans to make it easier for more dairy farmers to get into their own farms, and to grow with the Co-op, by extending its MyMilk initiative to the North Island.
“Fonterra’s been looking at ways to make it easier for farmers to join and grow in the Co-op, ensuring our Co-op is strong for generations to come,” said Group Director of Farm Source, Richard Allen.
“One way has been through MyMilk, a Fonterra-backed company that’s helping young and new farmers establish a foothold in the industry and ultimately take a stake in Fonterra.
“After five successful years in the South Island, we’re extending MyMilk across the North Island to allow more farmers, especially young farmers, the chance to purchase their own farm and join the Co-op. We’re also extending the initiative to help existing Fonterra farmers looking to grow through purchasing another Fonterra farm.”
MyMilk provides farmers with a pathway into the Co-op, by allowing them to supply MyMilk for up to five years without buying shares. It’s great for farmers who aren’t currently Fonterra suppliers, but want to be a part of the New Zealand co-operative story.
For young Southland farmers Don and Jess Moore, MyMilk has opened up an opportunity once beyond their reach.
“We’ve always wanted to be Fonterra suppliers. It’s been awesome to have the opportunity that MyMilk gives us by providing a pathway through stepping from share-milking to farm ownership. MyMilk is an opportunity to keep growing and stay with the Co-op, and we’re delighted more farming families will be given that chance,” said Don Moore.
First launched in 2014 in the South Island, MyMilk has quickly gained traction, with more than 145 dairy farmers involved over that time across Southland, Otago and Canterbury.
Based on a strong belief that the co-operative model is the best fit for New Zealand farmers, MyMilk offers farmers the ability to supply milk for up to five seasons without a requirement to purchase shares in Fonterra. MyMilk farmers are required to meet the same supply terms and conditions as Fonterra shareholders with regards to milk quality, safety and sustainability, and have access to many of the tools and services the Co-operative offers.
“We know farmers have choices when they decide who they supply, and we want Fonterra to be the best choice with a strong sustainable Farmgate Milk Price, targeted on-farm support to help farmers meet new environmental and climate expectations, and flexible financial tools and ways to share-up,” said Mr Allen.
MyMilk will be available in the North Island for supply commencing from 1 June 2020. Eligibility conditions apply and MyMilk volumes are limited to 5% of Fonterra’s total milk collections.