Fonterra lifts payout, earning forecast

(Image: Getty)

Thu, 07 Dec 2023

Fonterra has lifted the bottom end of its forecast payout off the back of recent lifts in global dairy prices.The co-op, which also released its quarter one results on Thursday, increased the mid-point of its forecast farmgate by 25c to $7.50/KgMS, with the range moving to between $7 and $8/kgMS.That’s up from $6.50 to $8/kgMS.Fonterra chief executive Miles Hurrell said it reflected recent strengthening in demand for reference commodity products from key importing regions, including improvement in demand from China in the first quarter.Wh...

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