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1 Aug 2021 21:58
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  •   Home > News > Rural

    Fonterra's increased the mid-point of its forecast farmgate milk price range to $6.80 per kilos of Milk Solids, up from $6.40

    Fonterra's increased the mid-point of its forecast farmgate milk price range to $6.80 per kilos of Milk Solids, up from $6.40


    Fonterra
    Fonterra
    It's been driven by improved demand out of China.

    The company believes it will add around 10-billion dollars to regional New Zealand.

    The co-op left itself plenty of wriggle room by retaining its current plus or minus 50c per kg range, but at $6.80, the price would be one of the highest paid by the co-op.

    Chief executive Miles Hurrell says in particular, demand for whole milk powder - a big driver of milk price - has been stronger than expected.

    © 2021 Newstalk ZB, NZCity

     Other Rural News
     05 Jul: Changes to how Fonterra calculates the price of milk
     28 Jun: Fonterra has agreed to sell its two joint venture farms in China
     25 Jun: The group representing the country's dairy farmers is reassured to see additional funding delivered for flood-affected farmers in Canterbury
     16 Jun: Dairy prices have dropped 1.3 percent, at Fonterra's latest Global Dairy Trade auction overnight
     26 May: Fonterra farmers believe this season's milk price won't budge much from a new midpoint of seven dollars and 55 cents
     06 May: Dairy farmers have six months to decide on a capital restructure for Fonterra
     05 May: Hopes Fonterra will streamline how farmers buy and sell units
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