Fonterra farmers have voted in the co-operative's Trading Among Farmers (TAF) proposal with a resounding 89.85% support.

The scheme is the final stage in Fonterra’s capital restructuring plan, and will allow farmers to trade shares among themselves and own dry shares above their milk production.

Proxy voting closed on Monday and Fonterra executives met in Palmerston North today to address those farmers yet to vote around the country via video link.

Fonterra Chairman Sir Henry van der Heyden welcomed the result - which was delivered by a record turnout of voters - and declared TAF "a lasting solution that could remain at the core of our co-op's capital structure for many years to come."