Fonterra's $13.8b bumper payout on higher milk price

Earlier this month, Fonterra lowered its milk collection forecast. (Image: Getty)

Tue, 25 Jan 2022

Fonterra Co-operative Group lifted the midpoint of the range it plans to pay its farmers to a record $9.20 per kilo of milk solids with hot demand and constrained supply.It lifted the range for the 2021-22 forecast farmgate milk price to NZD $8.90-$9.50 per kgMS, up from NZD $8.40-$9.00 per kgMS.The new midpoint would contribute $13.8 billion to the New Zealand economy this season, said chief executive Miles Hurrell.“The increase is the result of consistent demand for dairy at a time of constrained global milk supply,” he said.&ldqu...

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