Fonterra reduces farmgate milk price for new season, co-op's profit up

Fonterra chief executive Miles Hurrell. (Image: Getty)

Thu, 25 May 2023

Fonterra narrowed its forecast range for the current season's farmgate milk price and announced an even lower price for the season that kicks off June 1, news that won't be well received by farmers who are already under pressure.The forecast range for the current season is now $8.10 to $8.30 per kilogram of milk solids versus $8.00 to $8.60 per kgMS. The midpoint is now $8.20 per kgMS versus a prior forecast of $8.30 per kgMS.Fonterra opens the new dairy season with a forecast farmgate milk price of $7.25 to $8.75 per kgMS, with a midpo...

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