Fonterra has announced a forecast Farmgate milk price of $10 per kilogram of milk solids for the 2025/26 season.
The co-operative also reported a 11% increase in normalised profit after tax for the third quarter, reaching $1.15 billion.
Fonterra's chief executive, Miles Hurrell, attributed the strong earnings to the scale and ongoing strength of its ingredients channel, as well as volume growth in the foodservice and consumer channels.
The company narrowed its full-year earnings range to 65-75 cents per share, at the upper end of the previous guidance.
Fonterra's return on capital was 11%, down from 11.9%.
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