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Last month the company sold its Chinese farms as it concentrates more on paying down debt and the domestic market. One perennial issue is the extent to which non-farmers are able to invest in the co-op. In 2012, the company brought in the Trading Among Farmers (TAF) structure, providing a way for non-suppliers to invest through the sharemarket as well as a separate platform for farmer owners to trade their shares.
Dominico Zapata/Stuff
Bringing non-farmer investors into Fonterra has always been an issue, Penny says. While TAF continues to function effectively today, it’s important to look at whether it best supports our co-op’s purpose and refreshed strategy over the longer term, Fonterra said.