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Primary Sector

Chinese demand drives up Fonterra's forecast milk payout

Rebecca Howard
Thu, 15 Oct 2020

Rebecca Howard
Thu, 15 Oct 2020
Chinese demand for dairy will help New Zealand weather the impact of a global recession, with Fonterra Cooperative Group hiking its 2021 farmgate milk price forecast. Fonterra lifted the forecast to a range of $6.30-to-$7.30 per kilogram of milk solids from a prior forecast of $5.90-to-$6.90/kgMS. That earlier projection was an improvement on the opening forecast of $5.40-to-$6.90/kgMS provided in May. The mid-point is now $6.80/kgMS which would see more than $10 billion flow into regional New Zealand, Fonterra chief executives Miles...

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