Fonterra the global dairy cooperative is in a serious financial crisis but New Zealand Prime Minister Jacinda Ardern has refused to help them out saying the cooperative has not yet gone belly up, reports a news outlet.
The cooperative says it is likely to incur a huge financial loss so it will not pay dividend this fiscal.
The company has about 10 thousand farmer shareholders and is rated as one of the largest dairy co-ops in the world.
However, farmer groups have said it could be tough given the rise in costs in the last years.