New Zealand's Fonterra Maintains Payout Forecast For 2009/10

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Wednesday, New Zealand's dairy firm Fonterra announced that its total payout forecast for the 2009/10 season remains at NZ$4.55 per kilogram of milk solids, with a 10 cent increase in profit compensating for a fall of 10 cents in the Milk Price.

The firm also maintained its payout forecast for the 2008/09 season at NZ$5.20.

Fonterra's forecast came a day after the Ministry of Agriculture and Forestry said the average dairy products payout for the year ended May 2009 was estimated at NZ$5.25 per kilogram of milk solids.

Taking into account lower exchange rate assumptions,the ministry said future payouts are projected to average around NZ$5.5.

Wednesday, New Zealand's dairy firm Fonterra announced that its total payout forecast for the 2009/10 season remains at NZ$4.55 per kilogram of milk solids, with a 10 cent increase in profit compensating for a fall of 10 cents in the Milk Price. (Market News Provided by RTTNews)