Synlait shaves 50c off milk price forecast

Mon, 19 Dec 2022

Synlait Milk is reducing its forecast base milk price for the 2022-23 season to $9.00/kgMS from $9.50/kgMS.In a notice to the New Zealand stock exchange (NZX), Synlait said the revised forecast reflected weaker global demand since it provided its last update in September. The company said demand had weakened as the cost of living increased globally, and economic activity in China remained suppressed due to covid-19 restrictions.Synlait chief executive Grant Watson said: “Based on softer dairy commodity prices across the first half of...

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