UPDATED: Reduced Fonterra payout forecast depends on 30% recovery in dairy product prices

Tue, 23 Sep 2014

By Jonathan Underhill Sept. 24 (BusinessDesk) - Fonterra Cooperative Group has predicated its reduced milk price forecast for the 2014/2015 season on a recovery in dairy product prices of about 30 percent by March next year, chief executive Theo Speirings says. The world's biggest dairy exporter today cut its forecast 2015 milk price payout by about 12 percent to $5.30 per kilogram of milk solids from a previous forecast of $6/kgMS, citing weaker global dairy prices. On a conference call, Spierings said the new forecast was based on the a...

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