Fonterra Co-operative Group Limited has confirmed the forecast Farmgate Milk Price of $6 per kgMS announced last year. The total payout available to farmers is forecast to be $6.50 to $6.60 before retentions.
According to John Wilson, chairman of Fonterra, the global outlook for dairy remains positive, and the co-operative expects global prices to continue to hold or gradually increase over the back half of this season. The company is also set to increase the monthly Advance Rates it pays to farmers, due to the overall confidence in the global dairy market.
