Fonterra payout forecast welcome boost for Wanganui - 24/05/2007Wanganui Deputy Mayor Dot McKinnon today welcomed the announcement of Fonterra's increased milk payout forecast for 2007/08.
Fonterra is forecasting a $5.53 per kilogram payout for the 2007/08 season, up $1.18 per kilogram on 2006/07.
"It's a great financial shot in the arm for the regions, particularly Wanganui," Cr McKinnon said.
"Farmers' wealth is Wanganui's wealth and this is another boost to our ongoing economic development and growth activity.
"It shows that Wanganui is still going ahead with good things continuing to happen. We've seen excellent leaps in growth, construction and retail spending in recent times. It's great news for farmers but it's also great for the rest of our community. The increased payout has huge potential for Wanganui's economy."