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20 Jan 2021 6:49
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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
     16 Dec: Some good news for farmers, in the last Global Dairy Trade auction before Christmas
     05 Dec: Fonterra farmers are grateful for an extra 20 thousand dollars coming their way when milk markets are so precarious
     04 Dec: Fonterra farmers will share an extra 300 million dollars from a lifted milk price...thanks to strong demand from China
     04 Dec: Fonterra is waiting on regulators to clear the sale of its Chinese farms
     04 Dec: A recovering China is lifting hopes that Fonterra will continue to piggy-back on growing milk demand
     04 Nov: Dairy farmers are looking ahead - both for the environment, and their farms
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