Synlait cuts 10c off forecast milk price in weaker market

Synlait is already dealing with reduced demand from key customer A2 Milk. (Image: Synlait)

Wed, 31 May 2023

Synlait has cut its forecast base milk price from $8.30 per kilogram of milk solids to $8.20 and the company is blaming weaker than expected commodity prices for the move.In a statement to the New Zealand stock exchange (NZX) on Wednesday morning, the Canterbury-headquartered milk company said there had been a stronger than forecast drop-off in commodity prices towards the end of the season.There were other factors in the reduced forecast: the cost of imported lactose was still high and global demand had slowed while the production of milk had...

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