Primary Sector

Rising costs take the shine off high milk payout

Rebecca Howard
Fri, 24 Jun 2022

Rising costs take the shine off high milk payout
Fonterra says interest rates and inflation have lifted well above its assumptions. (Image: Getty)
Rebecca Howard
Fri, 24 Jun 2022
Fonterra expects to pay its farmers more than ever but rising costs will take the shine off the record-high payout. The dairy giant this week lifted the 2022-23 forecast farmgate milk price range to $8.75-$10.25 per kilogram of milk solids (kgMS) from $8.25-$9.75/kgMS. This increases the midpoint of the range, which farmers are paid off, by 50 cents to a record $9.50/kgMS. It tops the prior season’s forecast midpoint of $9.30. Times, however, are tough across the nation. Farmers, like everyone, are contending with annual in...

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