Fonterra reveals opening price
MILK processor Fonterra has announced a ‘‘responsible’’ opening average milk price of $5.30 per kg of milk solids for next season, with a forecast average closing price of between $5.40 and $5.80.
When combined with the 40¢/kgMS additional payment, ‘‘it means Fonterra farmers can expect to receive $5.70/kgMS, with a forecast closing price range of $5.80 to $6.20/kgMS,’’ the New Zealand processor said in a statement.
Fonterra Australia managing director Rene´ Dedoncker said the company had taken a responsible view in setting its opening price and forecast closing range, which reflected its Australian improved product mix and the current commodities market.
‘‘This is a responsible price in the current market. World dairy prices have strengthened, reflecting the strong fundamentals supporting global dairy markets,’’ Mr Dedoncker said.
‘‘We’ve made significant investments in Australia and achieved a number of milestones for our business, including our