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Saturday 25 June 2022

Synlait hikes milk price forecast

1st June 2021 By Staff Reporter | news@foodticker.co.nz | @foodtickernz

Synlait Milk has increased its forecast base milk price for the 2020/2021 season by 35 cents to $7.55 kgMS.

Its opening forecast for the 2021/2022 season is $8.00 kgMS – matching the mid-point of Fonterra’s recently announced opening range. A final milk price and forecast for next season will be confirmed on 27 September when the company released its annual results.

Synlait chief executive John Penno said: “Commodity prices have continued to outperform our expectations, predominantly due to strong Chinese demand, combined with a relatively stable FX rate, meaning we are pleased to increase our forecast for this season and next.”

 

 


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