NZD – Fonterra Chief Executive Theo Spierings has suggested drastic changes to how Globaldairytrade (GDT) may be required to support dairy prices, which had fallen below the bottom of sustainable levels. Some farmers, including Federated Farmers’ Waikato President Chris Lewis, have called on Fonterra to either temporarily suspend GDT itself or to suspend Fonterra’s involvement in it.
“It’s madness, devoid of any common sense to keep GDT operative in these times,” Lewis was quoted as saying, adding such a suspension was not unprecedented and pointing to the share market suspensions in China recently.
http://www.interest.co.nz/rural-news/76991/ceo-theo-spierings-says-drastic-changes-globaldairytrade-may-be-required-after
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