NZ's Fonterra cuts milk price forecast for 2022/23

December 08, 2022 06:53 AM AEDT | By Reuters
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Dec 8 (Reuters) - New Zealand's Fonterra Co-operative Group Ltd on Thursday lowered its 2022/23 farmgate milk price range outlook on higher costs and softening in demand for whole milk powder.

The world's biggest dairy exporter now expects to pay farmers for milk supply between NZ$8.50 and NZ$9.50 per kilogram of milk solid (kgMS), compared with NZ$8.50 to NZ$10.00 per kgMS earlier. (Reporting by Savyata Mishra in Bengaluru)


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