Synlait Milk Raises 2024/25 Milk Price Forecast
Source: DairyNews.today
Synlait Milk on Friday increased its forecast for the base milk price for the 2024/25 season to NZ$10 per kilogram of milk solids (kgMS), citing stronger global commodity prices.
The revised forecast represents a rise from the previous estimate of NZ$9.50 per kgMS, providing a boost to farmers' earnings as the base milk price reflects what the company pays to suppliers.
The adjustment follows an earlier hike in Synlait's milk price forecast in November, underscoring robust market conditions. Rival dairy giant Fonterra also raised its forecast earlier this month, pointing to favorable international demand for dairy products.
Synlait’s revision reflects continued confidence in the outlook for global dairy markets as commodity prices maintain an upward trajectory.
The adjustment follows an earlier hike in Synlait's milk price forecast in November, underscoring robust market conditions. Rival dairy giant Fonterra also raised its forecast earlier this month, pointing to favorable international demand for dairy products.
Synlait’s revision reflects continued confidence in the outlook for global dairy markets as commodity prices maintain an upward trajectory.
