Fonterra lifts forecast Milk Price and maintains earnings

Email: [email protected] Fonterra Co-operative has lifted its 2021/22 forecast Farmgate Milk Price range to NZ$9.30 - $9.90 per kgMS, up 40 cents to a midpoint of NZ$9.60 per kgMS, reflecting the increase in global dairy prices and good levels of ongoing global demand.

The forecast midpoint of NZ$9.60 per kgMS represents a cash injection of over $14 billion into New Zealand’s economy through milk price payments alone.

Fonterra's current 2021/22 earnings guidance of 25-35 cents per share remains unchanged.