Fonterra hikes forecast farmgate price 30 cts on strong international prices

Tue, 27 Aug 2013

Aug. 27 (BusinessDesk) - Fonterra Cooperative Group, fending off threats to its international reputation as a safe food producer, has hiked its forecast payout to farmers in the 2014 season by 30 cents on the strength of international dairy prices. The Auckland-based dairy exporter expects to pay $7.80 per kilogram of milk solids to its farmer-shareholders, up from previous estimates of $7.50 per kgms, and maintained its predicted dividend of 32 cents per share, it said in a statement. Chairman John Wilson said the increase reflected continu...

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