Synlait hoping milk-price lift will boost farmers' confidence

Synlait's site in Pōkeno. (Image: BusinessDesk)

Fri, 06 Sep 2024

Synlait Milk is hoping the lift in its forecast milk price will go some way to helping restore confidence among its farmer suppliers.The embattled processor increased its base forecast payout for the current season on Thursday by 60c to $8.60 per kilogram of milk solids (kgMS) – 10c higher than Fonterra’s midpoint.In just under two weeks, Synlait’s shareholders will gather at its Dunsandel site to vote on a proposed $217 million capital raise that will see its largest shareholder, China’s Bright Dairy, take a controlling...

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