November 2, 2007

Australia's dairy farmers express concerns over co-op

Australian dairy farmers expressed concerns after milk co-op and processor Dairy Farmers, announced a 39-percent drop in profits for the 2007 financial year.

Chief executive of Dairy Farmers noted that milk supply improved 6.7 percent despite serious drought.

However, some farmers are disgruntled with the result.

Much uncertainty also hands over the future ownership of the business, with the word out that Fonterra and Goodman-Fielder may be looking for a takeover.

So far, the company has remained tight-lipped on whether there would be a takeover or a stock listing.