Fonterra Co-Operative Group Limited
(ASX:FSF) has announced an increase on the forecast price of milk.
In the 2016/17 season, the company’s opening forecast Farmgate Milk Price is $4.25 per kg Milk Solids, which is an increase of 35 cents.
The company’s chairman, John Wilson, says that the price increase was influenced by a number of factors including a high NZD/USD exchange rate, supply rates from other dairy regions, and the economic outlook of major dairy importers.
The New Zealand dairy manufacturer says that there will be no change to the current 2015/16 season forecast which is being held at $3.90 per kgMS.
