Wednesday, 3 February 2021, 9:05 am
Fonterra Co-operative Group Limited today lifted its
2020/21 forecast Farmgate Milk Price range to NZD $6.90 -
$7.50 per kgMS, up from NZD $6.70 - $7.30 per
kgMS.
The midpoint of the range, which farmers are
paid off, has increased to NZD $7.20 per
kgMS.
Fonterra CEO Miles Hurrell says the lift in the
2020/21 forecast Farmgate Milk Price range is a result of
strong demand for dairy, which is demonstrated by the
continued increase in Global Dairy Trade (GDT) prices since
the Co-op last revised its milk price at the beginning of
December.
“In particular, we’ve seen strong demand
from China and South East Asia for whole milk powder (WMP)