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26 Jun 2022 2:12
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  •   Home > News > Rural

    Fonterra says high milk prices have affected its margins

    Fonterra says high milk prices have affected its margins


    Fonterra
    Fonterra
    The dairy co-op's made a half year after-tax profit of 364-million dollars, down 27 million on the same time last year.

    The forecast record farmgate milk price is still $9.30 to $9.90 per kilogram of milk solids.

    Chief Executive Miles Hurrell says Fonterra knew this year was going to be more challenging due expensive milk, which is up almost 30 percent year-on-year.

    He's pleased with the co-op's profit after tax because it shows it's performing well, even in a high milk price environment.

    © 2022 Newstalk ZB, NZCity

     Other Rural News
     24 Jun: Farmers says a stock control bylaw being proposed by the Tasman District Council, will be impossible for farmers to comply with
     23 Jun: Fonterra has lifted its Farmgate Milk Price to a new record high
     22 Jun: Dairy prices have dipped 1.3 percent at the latest Global Dairy Trade auction overnight
     17 Jun: Fertiliser co-operative Ballance say they are beginning to produce their own fertiliser
     08 Jun: Fonterra is buying back 50 million dollars' worth of its own shares
     08 Jun: Fonterra has announced a 50-million dollar share buyback
     08 Jun: Dairy prices have risen in the first Global Dairy Trade auction of the new season
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