Fonterra Shareholders' Fund Prospectus and Investment Statement
Fonterra Shareholders' Fund Prospectus and Investment Statement
Fonterra Shareholders' Fund Prospectus and Investment Statement
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3<br />
<strong>Fonterra</strong>’s<br />
CO-operative<br />
STRUCTURE<br />
underpins its<br />
ACCESS to qUAlity<br />
milk supply.<br />
In the 2011 / 2012 Season, <strong>Fonterra</strong><br />
collected approximately 89% of<br />
New Zeal<strong>and</strong>’s milk from around<br />
10,500 Farmer Shareholders who<br />
are among the most cost-efficient<br />
dairy producers in the world.<br />
Farmers have a substantial financial<br />
stake in <strong>Fonterra</strong> through the link<br />
between milk supply <strong>and</strong><br />
ownership. This promotes a strong<br />
connection to the Co-operative <strong>and</strong><br />
a secure supply of quality milk.<br />
The milk price paid to Farmer<br />
Shareholders is linked to the prices<br />
of globally-traded dairy products in<br />
a transparent manner, <strong>and</strong> takes<br />
into account a return on investment<br />
in efficient processing assets.<br />
TOTAL MILK COLLECTED IN NEW ZEALAND FONTERRA MILK COLLECTION IN NEW ZEALAND BY SEASON<br />
Annual milk collection (billion litres)<br />
89 % FONTERRA<br />
20<br />
11% OTHERS<br />
18<br />
16<br />
11-year CAGR: 1<br />
2.6%<br />
17.0<br />
14<br />
12<br />
Source: <strong>Fonterra</strong> <strong>and</strong> DairyNZ<br />
10<br />
2002<br />
2003<br />
2004<br />
2005<br />
2006<br />
2007<br />
2008<br />
2009<br />
2010<br />
2011<br />
2012<br />
Source: <strong>Fonterra</strong><br />
1 CAGR refers to compound annual growth rate.<br />
FONTERRA SHAREHOLDERS’ FUND PROSPECTUS AND INVESTMENT STATEMENT 29
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