Primary Sector

Fonterra lifts payout forecast, Wickham leaving after 34 years

Rebecca Howard
Thu, 23 Jun 2022

Fonterra lifts payout forecast, Wickham leaving after 34 years
Kelvin Wickham. (Image: NZME)
Rebecca Howard
Thu, 23 Jun 2022
Fonterra lifted its forecast payout for the current season, gave strong earnings guidance and said Kelvin Wickham is stepping away from the co-operative after more than 34 years.It lifted the 2022-23 forecast farmgate milk price range to $8.75-$10.25 per kilogram of milk solids (kgMS) from $8.25-$9.75/kgMS.This increases the midpoint of the range, which farmers are paid off, by 50 cents to $9.50/kgMS.The boost to the forecast milk price reflects the milk supply and demand picture and the current strong US dollar, said chief executive Miles Hurr...

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