Fon­terra re­veals open­ing price

Kyabram Free Press - - NEWS -

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

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