Higher farmgate milk price could put another $1b in rural economy

(Image: Unsplash)

Tue, 28 May 2024

If analysts are on the money, dairy co-operative Fonterra’s opening forecast for the new season could inject another $1 billion into the New Zealand economy.Times, however, will be tougher across the Tasman. ANZ Bank is expecting Fonterra’s NZ milk price to be $8.50 per kilogram of milk solids (MS) by the end of 2025-24.The NZ season kicks off on June 1. Fonterra is expected to announce its opening forecast this week. Westpac Bank’s latest NZ forecast for the new season was $8.40 kg/MS, but chief economist Kelly Eckh...

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