Synlait trims another 50c off milk price forecast

(Image: Unsplash)

Tue, 14 Mar 2023

Synlait Milk is reducing its forecast base milk price for the 2022-23 season to $8.50 per kilogram of milk solids (kgMS) from $9.00/kgMS. In a notice to the New Zealand stock exchange (NZX), Synlait said the key drivers of the revised forecast were subdued global economic activity as well as a slower-than-expected recovery of Chinese demand following the pandemic.The company said global milk production was showing signs of recovery in late 2022. This added further downward pressure to dairy commodity prices.“These factors have reduce...

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