Fonterra has lifted its milk payment to farmers to a record level
Fonterra has lifted its milk payment to farmers to a record level
3 December 2021
The co-operative is raising its forecast milk price range to $8.40 to $9 per kilo of milk solids.
That increases the midpoint, which farmers are paid, to $8.70.
That's likely to contribute more than 13.2 billion dollars to the economy.
Westpac agri economist Nathan Penny says it's off the back of strong dairy auction prices over the last few months.
He says that's reflected in soft production around the globe, and in New Zealand.
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