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5 May 2024 16:59
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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
     23 Apr: Sheep farmers are being urged to hang on
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
     21 Mar: Dairy farmers will be breathing a sigh of relief with Fonterra's latest results
     20 Mar: There's bad news for dairy farmers on the eve of Fonterra's half year results -- with dairy prices dropping a further 2.8 percent at the latest Global Dairy Trade auction this morning
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
     07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt
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