Fonterra Australia lifts its forecast payout for Australian suppliers

Fri, 28 Jul 2017

By Rebecca Howard July 28 (BusinessDesk) - Fonterra Cooperative Group has once again lifted the amount it will pay its Australian suppliers on the back of an improvement in its business across the Tasman and rising milk prices. Fonterra Australia lifted its average milk price for the 2017/18 dairy season by 20 Australian cents to A$5.50 per kilogram of milk solids. The increase will apply from July 1 and will be paid on Aug. 15, it said. It also forecast its closing milk price for its Australian suppliers would be A$5.50-to-A$5.80 pe...

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