Chairman Peter McBride says the prevailing price has been undervaluing Fonterra shares, particularly since late April.
Meanwhile, dairy prices have risen 1.5 percent in this morning’s first Global Dairy Trade auction of the new season.
Skim milk is up three percent, while whole milk powder is down 0.3 percent.
In the coming weeks, a significant decision awaits dairy farmers as they prepare to cast their votes on a critical package of milk marketing reforms.
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