Fonterra hikes forecast payout 75 cts to $6/kgMS on dwindling production

Thu, 17 Nov 2016

By Paul McBeth Nov. 18 (BusinessDesk) - Fonterra Cooperative Group has raised its forecast payout to farmers by 75 cents per kilogram of milk solids as dwindling production in Europe, Australia and New Zealand in the face of firm demand has helped rebalance global supply and demand. The Auckland-based company expects to pay $6 per kilogram of milk solids in the 2017 season, up from a previous forecast of $5.25/kgMS and up from the $3.90/kgMS it paid out in 2016. The company also affirmed its forecast earnings per share of 50-to-60 cents...

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