Fonterra revises its 2021/22 forecast Farmgate Milk Price

Email: [email protected] Today, Fonterra Co-operative Group Limited revised its 2021/22 forecast Farmgate Milk Price range from $9.30 - $9.90 per kgMS to $9.10 - $9.50 per kgMS, reducing the midpoint of the range from $9.60 to $9.30 per kgMS.

This change is due to impact of a number of short-term events on global demand for dairy products, including the lockdowns in China due to COVID-19, the economic crisis in Sri Lanka and the Russia-Ukraine conflict.

CEO Miles Hurrell said that while the long-term outlook for dairy remains positive, there are a number of risks they are keeping a close eye on.

The forecast Farmgate Milk Price would still be the highest in the Co-op’s history and would contribute almost $14 billion into New Zealand’s economy.