[14 December/The Country]

The Commerce Commission’s final report on the latest season’s milk price manual gave Fonterra Cooperative Group a ‘pass’ mark, saying there were no major concerns over the latest amendments, however the Commission noted that it is looking for more transparency from the dairy processor. The Commission said it will take a closer look at Fonterra’s disclosure of sales outside the GlobalDairyTrade platform, which rival processors complained about during the submission process. The report said Fonterra hasn’t consistently published quarterly forecasts of the cents per kilogram of milk solids impact. The regulator also wants to better understand the costs associated with changing environmental considerations, including items like resource management compliance costs. It will also investigate how Fonterra is responding to changes in energy policy and markets where the pace of change is accelerating. It also said it will monitor what actually happens when assets become stranded, effectively becoming no longer needed, compared to its theoretical models.