Fonterra (ASX:FSF) narrows Farmgate Milk Price

Company News

by Katrina Bullock

The Fonterra Co-operative Group (ASX:FSF) has revised and narrowed its guidance for the farmgate milk price range.

This comes on the back of improved demand from China, and a strengthening New Zealand dollar.

The forecast for the 2020 financial year has narrowed from a range of $7.10 to $7.30; down to a range of $7.10 to $7.20 per kilogram of milk solids.

The 2021 financial year forecast range has narrowed from a range of $5.40 to $6.90, and is now expected to be between $5.90 and $6.90 per kilogram of milk solids.

The Co-operative will announce the final 2020 financial year farmgate milk price as part of its annual result in September.

Shares in Fonterra Shareholders' Fund (ASX:FSF) are trading 0.6 per cent lower at $3.61.
 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.