Fonterra cuts 2019 forecast 25 cts as US, Europe, Latin America boost supply

Thu, 30 Aug 2018

By Paul McBeth Aug. 31 (BusinessDesk) - Fonterra Cooperative Group has cut its forecast payout to farmers by 25 cents per kilogram of milk solids, blaming increased supply in Europe and the Americas, and appetite for dairy products in emerging markets cooling. The world's biggest dairy exporter lowered its forecast farmgate milk price to $6.75/kgMS from $7/kgMS. Chair John Monaghan said the US, Europe and Argentina boosted global supply over the past quarter, while at the same time demand waned in some emerging markets. That's still hig...

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