There are reports of frustration and anger building among Fonterra's farmer-owners as a second mega-million dollar China investment by New Zealand's major dairy co-op threatens to hit the rocks and erode their future earnings.
Concerns about the co-operative's deteriorating $756 million investment in Chinese infant food company Beingmate have been acknowledged by Fonterra Shareholders' Council chairman Duncan Coull.
Mr Coull joined Rural Exchange to discuss moer about Fonterra's future.
The shareholders council is often criticised for being a lap dog of the Fonterra board, we find out whether this is fair criticism.
Fonterra recently announced an alignment with A2 Milk.
Some commentators believe Fonterra dropped the ball earlier on by passing up an opportunity to invest in A2 at the beginning and is now in catch up mode.
Watch the full interview with Duncan Coull above.