The Ministry of Agriculture has received more than 20 submissions relating to Fonterra’s Trading Among Farmers proposal.

Under the proposal, co-op members will be allowed to trade shares according to milk supply, but only if the country’s Dairy regulations are changed to allow the change.

Submissions on the proposal closed on Friday.

Several high profile opponents of the scheme have come forward publicly, including rival dairy processors, and the US industry council.

One of the opponents, fellow processor Open Country Dairy, has said in a statement the TAF scheme is “unduly complicated”, and could make exiting the co-op difficult and costly for shareholders.

Open Country CEO Laurie Margrain says MAF needs to first examine the function of the current dairy market, and Fonterra’s anti-competitive behaviour.

Laurie Margrain says the complexity of Trading Among Farmers won’t allow shareholders to exit the company easily, and will further entrench Fonterra in its monopoly position.

And Open Country is not alone in its criticism, with newly formed Miraka corporation voicing some serious concerns about the scheme too.

CEO Richard Wyeth says Fonterra seems to be ignoring the valid points raised by some farmers about the risk of combining a trade and derivatives market into one.

"We just want to have the background information to see how it will work because through the MAF document there seems to be quite a few unanswered questions.

"The critical thing for us is if trading amongst farmers alters the farmer's ability to exit and enter Fontera then that may have a material impact on us."

Miraka has said in a statement they are seeking more information on the TAF scheme, and while they remain unconvinced, are seeking more detailed information before they take an official stance.

The US Dairy Export Council has also recorded their opposition to the scheme, saying it would allow Fonterra to “Capture unfair shares of foreign dairy markets” and describing it as “an obvious power grab.”

The U.S.D.E.C also said in a statement the TAF implementation would force the American industry to oppose our inclusion in the trans pacific partnership.

Fonterra has hit back at the criticism though, saying it’s unfounded and they are working with MAF to ensure open entry and exit conditions are maintained.

MAF says a recommendation will be made to cabinet by next month on whether the T.A.F scheme should make it to the select committee stage.

For more on Fonterra's plans, head here.