Farmers are set to receive one of the largest payouts in Fonterra's history
Farmers are set to receive one of the largest payouts in Fonterra's history
26 October 2021
The dairy giant has increased its forecast farmgate milk price -- with the mid-point now 8-dollars-40 per kilogram of milk solids, the highest equal paid by the co-op.
Fonterra CEO Miles Hurrell says it's a result of continued demand for New Zealand dairy, relative to supply.
He says demand from China's eased over the past couple of months, but other regions have stepped in.
And global milk supply's forecast to be lower than average, driven by a slowdown in US production due to expensive feed.
© 2021 Newstalk ZB, NZCity
