FONTERRA has announced the first step-up milk payment of the season.
The company will pay an extra 7c/kg for butterfat and 17c/kg for protein, retrospective to July 1.
Fonterra's national milk services manager, Heather Stacy, said the increase would give farmers confidence to continue to invest in their businesses.
She said despite the shocks in global financial markets, the step-ups demonstrated Fonterra's commitment to provide returns to suppliers as they were realised in the marketplace.
