Fonterra's 2015/16 payout cut now expected to below latest season's

Wed, 15 Jul 2015

By Tina Morrison July 16 (BusinessDesk) - Weaker dairy prices have prompted analysts to pull back their expectations for Fonterra Cooperative Group's payout to farmers this season, with most now expecting this year's payout will be below last year's, which is likely to put pressure on farm incomes and see debt levels rise. The price for whole milk powder, New Zealand's key commodity export, dropped 13 percent to US$1,848 a tonne in the GlobalDairyTrade auction overnight. Continued weakness in dairy prices is being driven by increased supp...

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