Fonterra lowers gate price, collection forecasts

Fonterra lowers gate price, collection forecasts
CEO Miles Hurrell says the long term outlook remains positive for dairy in NZ. (Image: Getty)
Staff reporters
Fonterra Co-operative Group has revised down the range for the forecast farmgate milk price and milk collection for the 2022-23 season.The farmgate price range has dropped to $8.20 – $8.80 per kg of milk solids (kgMS) with a midpoint of $8.50, which is down from $8.50 – $9.50 per kgMS and a midpoint of $9.00.The milk collection forecast for the season is dipping to 1,465 million kgMS, down from 1,480 million kgMS.Fonterra's chief executive, Miles Hurrell, said demand for whole milk powder was down.“Demand for whole milk po...

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