CORRECT: Fonterra raises forecast payout again as global supply shrinks

Tue, 20 Sep 2016

(Fixes amount of increase in 1st paragraph) By Paul McBeth Sept. 21 (BusinessDesk) - Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. The Auckland-based company raised its forecast payout for the current season to 5.25/kgMS from its $4.75/kgMS estimate last month. Chairman John Wilson said since the August review, global supply continued to declin...

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