Businessweek reports the world’s largest dairy exporter announced its plans to pay New Zealand farmers as much as it can to counter increasing costs.

The announcement was made by Fonterra Cooperative Group Ltd. at its annual meeting. Farmers may get between NZ$6.85 and NZ$6.95 per share in the year ending May 31. The expected payment is higher than the NZ$6.37 that was paid the previous season.

Chairman Henry van der Heyden told the annual meeting in Hawera today. “There are some real pressures on input costs that have hit our farmers hard over the past year. We recognize that every cent of payout counts in a farm budget.”

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