Fonterra raises Australian farmgate milk price in response to stronger global dairy prices

Thu, 27 Oct 2016

By Sophie Boot Oct. 27 (BusinessDesk) - Fonterra Cooperative Group's Australian business has raised its average farmgate milk price to A$5.10 per kilogram of milk solids and increased its forecast closing price due to strengthening global dairy prices. In a statement, the Auckland-based dairy cooperative said it had increased its forecast closing price for the 2016/2017 season to A$5.20/kgMS. It had announced an opening price of A$4.75/kgMS in June, rising to A$5/kgMS by the end of the season. That compares with an A$5/kgMS payment for th...

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