Fonterra lifts forecast payout to record

(Image: Deposit Photos)

Fri, 03 Dec 2021

Fonterra now expects to pay its farmer shareholders a record $8.70 per kilogram of milk solids in the current season but did lower the top end of its earnings guidance range slightly. The higher milk price is the result of consistent strong demand for dairy at a time of constrained global supply, said chief executive Miles Hurrell. The new forecast is a range of $8.40-$9.00 per kgMS, up from a prior forecast of $7.90-$8.90 per kgMS. It will pump about $13.2 billion into the NZ economy. It marks the highest payout since Fonterra was f...

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