Friday, 5 March 2021, 8:58 am
Fonterra Co-operative Group Limited today lifted its
2020/21 forecast Farmgate Milk Price range to NZD $7.30 -
$7.90 per kgMS, up from NZD $6.90 - $7.50 per
kgMS.
The midpoint of the range, which farmers are
paid off, has increased to NZD $7.60 per
kgMS.
Fonterra CEO Miles Hurrell says the lift in the
2020/21 forecast Farmgate Milk Price range is a result of
consistent strong demand for New Zealand
dairy.
“We’ve seen Global Dairy Trade (GDT) prices
continuing to increase since February when we last updated
on our forecast Farmgate Milk Price and then this week there
was the 15% increase in GDT prices.
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)