Fonterra drops forecast milk volumes by 3.3 percent, reduces sales

Thu, 29 Jan 2015

By Fiona Rotherham Jan. 29 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. Fonterra expects 1,532 million kilograms of milk solids in the current season, below its December forecast of 1,584/kgMS which matched last season's production, the Auckland-based company said in a statement. Fonterra said daily milk production was now 6.1 percent lower than at the same time la...

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