Fonterra's vote tomorrow on whether to begin with share-trading amongst farmers is the most significant verdict for its farmers, ever since the co-operative was formed, says Chief Executive, Andrew Ferrier.

Farmers purchase and sell shares back to Fonterra, which is based on their level of manufacture.

On the other hand, the Fonterra board desires to bring an introduction of share-trading amongst farmers, so as to remove the redemption risk of the Company having to purchase back the shares and to offer the co-operative with permanent share capital.

Ferrier said that the company has always had to take a look in the rear-view mirror due to redemption risk and it does hold it back from taking an involvement as tactically strong as it could get in the world market.

Without redemption risk it is just starting another aspect of the firm being able to bring long-term security for the farmers' milk and carry on growing value on top of it.

Federated Farmers Dairy Chairman, Lachlan McKenzie said that farmers were probable to offer support to the alterations.

The discussion on capital structure has all been completed, the listening has also finished, and the voting packs are ready. The only thing that the firm is trying to ensure is that all come and vote, McKenzie said.