It's set the opening forecast Farmgate Milk Price for the season at eight-dollars-25 to nine-dollars-75, with a midpoint of nine dollars per kilogram of milk solids.
Fonterra CEO Miles Hurrell says they're pleased to be able to put out this opening price.
He says while there's a few clouds on the short term horizon around geopolitical situations and supply chain issues through China, the fundamentals looks strong.
