Fonterra raises 2024 milk price forecast

Fonterra produces about 30% of the world's dairy exports. (NZME)

Mon, 12 Feb 2024

Fonterra increased its 2023/24 season forecast farmgate milk price on Monday by 30 cents. The midpoint rose to $7.80 per kilogram of milk solids (kgMS), up from $7.50 kgMS. The forecast range for the season also increased to $7.30-$8.30 kgMS, up from $7 to $8 kgMS. Fonterra's chief executive, Miles Hurrell, said the price lift comes off the back of five strong global dairy trade (GDT) auctions. “Recently, we’ve seen a lift in demand, primarily from the Middle East and Southeast Asia, for our reference com...

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