Fonterra may raise its payout to farmers after upbeat dairy auctions

Wed, 18 Feb 2015

By Tina Morrison Feb. 18 (BusinessDesk) - Fonterra Cooperative Group may increase its forecast payout to New Zealand dairy farmers for this season after prices for whole milk powder, the nation's key export product, lifted by more than a third over the past two GlobalDairyTrade auctions. Agricultural economists closely follow the fortnightly auctions, where whole milk powder has spiked 35.6 percent over the last two sessions on lower volumes as production fell due to dry weather conditions. Auckland-based Fonterra is expected to update it...

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