Fonterra hikes forecast milk price on booming Asian demand

Wed, 03 Feb 2021

Fonterra raised its forecast payment to farmers for their milk, with strong demand from Chinese and South-East Asian buyers today pushing whole milk powder prices near a five-year high.The world’s biggest dairy exporter raised the forecast milk price to $6.90 to $7.50 per kilogram of milk solids, up from a previous range of $6.70 to $7.30/kgMS, further cementing the primary sector's role in underpinning New Zealand's economic prospects as the covid-19 pandemic rolls on.The $7.20/kgMS midpoint would see Fonterra pay $10.98 billion...

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