Fonterra's guaranteed milk price offer oversubscribed as farmers shelter from volatile pricing

Wed, 24 Jun 2015

By Tina Morrison June 25 (BusinessDesk) - Fonterra Cooperative Group had twice as many farms offer to supply milk for a guaranteed price for the upcoming season than last season amid uncertainty about when global milk prices will recover. A total of 45.2 million kilograms of milk solids was offered by 443 farms, exceeding the 40 million kgMS available under the guaranteed price, the Auckland-based milk processor said in a statement. That's up from 180 farms in June last year offering to sell 26 million kgMS. Fonterra set its June guara...

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