The co-op also boosted its 2017/18 farmgate milk price forecast by 20 cents (10.3 pence) to NZ$6.75 (£3.49) a kgMS.
Chairman John Wilson said the strong 2018/19 opening milk price will be welcome news for farmers as they look ahead to the new season.
“What we are seeing is a continued positive global supply and demand picture,” he says.
“Demand is expected to remain strong – especially from China. We are expecting the global dairy market’s current prices, especially for fats, to continue throughout the new season.”
Fonterra is also forecasting New Zealand 2018/19 milk collections to be 1,525 million kgMS, a 1.5-per-cent increase on its forecast for the current season, and expects to see a lift in supply from the European Union, United States, Australia and Argentina.
Wilson says the 2017/18 price forecast increase reflects a global supply and demand picture that continues to be positive for farmers.
“Global dairy prices have risen since the start of the season,” he says
By: Terri Dougan
Source: FarmWeek
Link: https://farmweek.com/nz-dairy-farmers-receive-milk-price-boost/
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Afrikaans Albanian Arabic Armenian Azerbaijani Basque Belarusian Bengali Bosnian Bulgarian Catalan Cebuano Chichewa Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish Dutch English Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hebrew Hindi Hmong Hungarian Icelandic Igbo Indonesian Irish Italian Japanese Javanese Kannada Kazakh Khmer Korean Lao Latin Latvian Lithuanian Macedonian Malagasy Malay Malayalam Maltese Maori Marathi Mongolian Myanmar (Burmese) Nepali Norwegian Persian Polish Portuguese Punjabi Romanian Russian Serbian Sesotho Sinhala Slovak Slovenian Somali Spanish Sundanese Swahili Swedish Tajik Tamil Telugu Thai Turkish Ukrainian Urdu Uzbek Vietnamese Welsh Yiddish Yoruba Zulu |