Synlait follows Fonterra with lower forecast farmgate payout

Sun, 27 Jan 2019

By Paul McBeth Jan. 28 (BusinessDesk) - Synlait Milk has cut its forecast payout to farmers for the current season, following Fonterra's lead, as weaker global demand and strong domestic production weighs on international prices. The Rakaia-based milk producer expects to pay $6.25 per kilogram of milk solids for the 2019 season, down from its previous forecast of $6.75/kgMS. That projection will depend on commodity prices recovering for the rest of the season, something Synlait said it considers realistic. The GDT price index rose 4....

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