Fonterra lifts 2014 forecast milk price payout to $7.50 on limited supply, weaker kiwi

Tue, 30 Jul 2013

By Paul McBeth July 31 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, has lifted its forecast milk payout to farmers by 50 cents in the 2014 season as global supply remains constrained and as a weaker local currency bolsters export returns. The Auckland-based company expects to pay $7.50 per kilogram of milksolids and an estimated dividend of 32 cents per share, it said in a statement. That was ahead of the $7.40 per kgms predicted by Westpac economists last week. Fonterra will pay $5.80 per kgms in the 2013...

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