Another $500 million for Fonterra farmers

Fri, 04 Dec 2020

Fonterra now expects its 2021 forecast farmgate milk price to pump $10.5 billion into New Zealand economy, $500 million more than it tipped in October.“China is continuing to recover well from covid-19 and this is reflected in recent Global Dairy Trade auctions with strong demand from Chinese buyers, especially for whole milk powder, which is a key driver of the milk price,” said chief executive Miles Hurrell.The dairy giant lifted its forecast range to $6.70-to-$7.30 per kilogram of milk solids versus its prior forecast of $6.30-to...

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