News | Rural
23 May 2024 6:47
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  •   Home > News > Rural

    Fonterra has lifted its milk payment to farmers to a record level

    Fonterra has lifted its milk payment to farmers to a record level


    Fonterra
    Fonterra
    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.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
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     17 May: Fonterra's CEO says the co-op's decided to divest a number of overseas operations, for the good of the business
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     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
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