Tag: revises
Fonterra revises FY23 forecast Farmgate Milk Price and collections
WEBWIRE – Monday, February 27, 2023 Fonterra Co-operative Group Ltdreduced and narrowed its 2022/23 season forecast Farmgate Milk Price range from $8.50 – $9.50 per kgMS, with a midpoint of $9.00, to NZ$8.20 – $8.80 per kgMS, with a midpoint of $8.50. At the same time, Fonterra updated its forecast milk collections for the 2022/23 season to 1,465 million kgMS, down from its previous forecast of 1,480 million kgMS. Fonterra CEO Miles Hurrell says the revised forecast Farmgate Milk Price range reflects softened demand at a time of balanced supply. Demand for Whole Milk Powder, particularly from Greater China, has been ... Read more