Wellington, June 30 NZPA - Fonterra shareholders have voted heavily in favour of changes to the cooperative's constitution that will allow share trading among its dairy farmers.

The resolution -- Trading Among Farmers -- received a 89.85 percent vote in support at a special meeting in Palmerston North today.

Fonterra chairman Sir Henry van der Heyden said there was a big voter turnout.

"Our farmers have voted in record numbers and those who voted represented 77.77 percent of the co-op's milk solids. I am delighted with this because, for me participation in the co-op is as important as the outcome and it is something that the board has made a priority," Sir Henry said.

"It is great to see farmers taking part and having their say. Their participation is the strongest since Fonterra was formed. It signals a clear mandate and shows that the unity and spirit of our co-op is alive and well," he said.

The move to share trading would be "a lasting solution that could remain at the core of our co-op's capital structure for many years to come.

"Effectively our vote today for Trading Among Farmers will, together with the co-op's new retention policy, take capital structure off the table for the foreseeable future."

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