Fonterra Raises 2009/10 Payout Forecast To NZ$5.1 Per KgMs

Sponsored Links

Tuesday, New Zealand's Fonterra Co-operative Group lifted its payout forecast for the 2009/10 season by 55 cents to NZ$5.10 per kilogram of milksolids citing improved international dairy prices.

Fonterra CEO, Andrew Ferrier said the strong increases in prices for whole milk powder at the global Dairy Trade events in the past two months echo a broad strengthening of demand and robust recovery in international dairy prices.

According to Henry Heyden, chairman of the Auckland-based company, the level of the New Zealand dollar remains a concern but this has been fully factored in to the revised 2009/10 forecast.

Tuesday, New Zealand's Fonterra Co-operative Group lifted its payout forecast for the 2009/10 season by 55 cents to NZ$5.10 per kilogram of milksolids citing improved international dairy prices. (Market News Provided by RTTNews)