Arla To Give 2018 Profits To Struggling Dairy Farmers
The drought in Europe has dairy farmers there experiencing significant pain. That’s what inspired dairy cooperative Arla, to pay its entire 2018 net profit of 310 million euros, to its 11,2000 farmer members.
“It is obvious farmers have had a tough time acquiring fodder, and it’s been more expensive. This puts the farmers’ economy under pressure,” Arla Chief Executive Peder Tuborgh told Reuters UK last week.
According to Reuters, European farmers are trying to recover losses caused by a summer heatwave that shrunk cereal harvests and dried out pastures, leaving some producers to consider bankruptcy.
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