John Stevenson: Fonterra Co-operative Council Chair on the company's jump in profits, potential impact of the war

Fonterra's confident it will be able to make the best of bad global circumstances.   The dairy giant has reported a 2.8% lift in first-half net profit to $750 million.   It's also announced a 20 cent increase in the farmgate milk price with a midpoint now sitting at $9.70 per kilo of milksolids.   Chief Executive Miles Hurrell says the war in Iran creates uncertainty.    Fonterra Co-operative Council Chair John Stevenson told Ryan Bridge that farmers are certainly worried.  He says the key thing will be seeing how the company deals with the war and the potential impact.  LISTEN ABOVE See omnystudio.com/listener for privacy information.