Fonterra lifts forecast for this season’s local milk supply

Fri, 07 Mar 2014

By Paul McBeth March 7 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, anticipates bigger growth in milk supply this season with dry conditions not as bad as last year’s drought, and the incentive of a higher forecast farmgate pay-out. New Zealand milk volumes are forecast to rise 7.5 percent to 1.57 million kilograms of milk solids in the 2013/14 season, up from a previous expectation of 6.4 percent growth, Fonterra said in a statement. Based on the forecast payout to farmers of $8.65 per kgMS, that implies...

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