Fonterra confident milk price could reach NZ$10/kg
Sourse: dairynews.today
Fonterra's CEO expects a potential record in farmgate milk price due to robust global demand.
Fonterra’s CEO, Miles Hurrell, has expressed confidence that the cooperative could achieve a record farmgate milk price close to NZ$10 per kilogram of milk solids this season.
This optimism is fueled by increasing global dairy demand, particularly from China and the Middle East, along with a recovery in global dairy commodity prices. The cooperative's updated forecast anticipates returns between NZ$8.50 and NZ$10.00 per kilogram. Despite positive market conditions, Hurrell cautions that variables such as currency movements and global economic volatility could influence final outcomes.
Nonetheless, Fonterra's strong financial position and strategic cost management provide a solid base for navigating potential challenges. The cooperative continues to monitor market trends to provide transparent guidance to its farmer shareholders.
This optimism is fueled by increasing global dairy demand, particularly from China and the Middle East, along with a recovery in global dairy commodity prices. The cooperative's updated forecast anticipates returns between NZ$8.50 and NZ$10.00 per kilogram. Despite positive market conditions, Hurrell cautions that variables such as currency movements and global economic volatility could influence final outcomes.
Nonetheless, Fonterra's strong financial position and strategic cost management provide a solid base for navigating potential challenges. The cooperative continues to monitor market trends to provide transparent guidance to its farmer shareholders.
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