Fonterra Shareholders Fund
(ASX:FSF) has maintained its forecast Farmgate milk price of NZ$4.60 per kgMS.
Chairman John Wilson said the stable forecast reflected the Board and management’s view that international prices would continue to improve in the first half of next year.
Fonterra is required to consider its forecast Farmgate milk price every quarter as a condition of the Dairy Industry Restructuring Act.
Mr Wilson also noted the Board has decided not to continue the Co-Operative Support loan for milk collected after 31 December, but would continue to monitor market conditions and assess the need for support.
Fonterra recorded a net profit of $16.25million at 31 July 2015.
