The Commerce Commission has updated the framework for the annual base milk price, to conduct two separate reviews each dairy season, instead of one.

The regime ensures Fonterra pays enough for farmers' milk - but not so high it discourages new processors entering the market.

>> More Rural News

Other Rural News

23 Apr: Sheep farmers are being urged to hang on

21 Mar: The boss of Fonterra is playing down concerns about the Chinese market

21 Mar: A good news day for Fonterra shareholders

21 Mar: Dairy farmers will be breathing a sigh of relief with Fonterra's latest results

20 Mar: There's bad news for dairy farmers on the eve of Fonterra's half year results -- with dairy prices dropping a further 2.8 percent at the latest Global Dairy Trade auction this morning

13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years

07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt

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