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7 Jun 2024 0:12
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      Home > News > Rural

    Fonterra has increased its forecast for the Farmgate Milk price for the 2024 financial year after a strong first quarter

    Fonterra has increased its forecast for the Farmgate Milk price for the 2024 financial year after a strong first quarter


    Fonterra
    Fonterra
    The predicted mid price point is up 25 cents to $7.30 per kilogram of milk solids.

    Fonterra's profit after tax is up 85 percent on this time last year, sitting at 392 million dollars.

    CEO Miles Hurrell says the forecast reflects a strengthening in demand from China and other key regions.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     05 Jun: Dairy prices are up another 1.7 percent in this morning's latest Global Dairy Trade auction
     29 May: Fonterra remains wary about the state of the global dairy market
     21 May: Farewell Anchor, Fresh'n Fruity and Mainland: what’s behind Fonterra’s decision to sell its consumer brands?
     17 May: Uncertainty around Fonterra's plan to sell well-known brand Anchor
     17 May: Fonterra's CEO says the co-op's decided to divest a number of overseas operations, for the good of the business
     23 Apr: Sheep farmers are being urged to hang on
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
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