Synlait lifts farmer payout to $6.25 for season

Synlait Milk has increased its forecast milk price from $6 per kilogram of milksolids $6.25 for the 2016-2017 season.
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«International dairy commodity prices have improved further since our last announcement in November and although prices have eased slightly in early 2017, we believe $6.25 kgMS is now a realistic estimate for the current season,» said chairman Graeme Milne.
He said global dairy production, with the exception of the United States, had continued to decrease and followed the trend of previous months.
«The industry still needs to work its way through existing inventory in the supply chain, which has remained higher than expected.»
Synlait is supplied by 200 dairy farmers in Canterbury.
Source: Stuff

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