Small Business

Fonterra ups Farmgate milk price forecast

Fonterra Co-operative Group has increased forecast Farmgate milk price for the upcoming 2018 season to $6.75 per kilogram of milksolids.

The Co-operative also forecast an earnings per share range of 45 to 55 cents, making the forecast total available payout to farmers in the 2017/2018 season $7.20 to $7.30.

The 25c lift in forecast milk price reflects the ongoing rebalancing of supply and demand in the global dairy markets.

Chairman John Wilson said, “We are seeing growing confidence on-farm across the country and, with global demand for dairy strengthening, the signs are for a good start to the season for our farmers and their rural communities although following a challenging period of very wet conditions for some of our farmers”.

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