. Step up of 10 cents per kilogram of milk solids (kgMS), bringing Fonterra’s average milk price to $5.62kgMS, incorporating changes to seasonal curve and milk composition
. Forecast average milk price closing range revised down to $5.62 to $5.70kgMS for the 2017/18 season
. Previously announced additional 40 cents/kgMS payment takes total cash paid to $6.02kgMS, and forecast closing range cash payable to $6.02 to $6.10kgMS
Fonterra Australia has today advised its farmers of an increase of 10 cents per kilogram of milk solids (kgMS) to its farmgate milk price for the 2017/18 season, bringing its average farmgate milk price to $5.62kgMS when changes to milk composition and the seasonal curve are factored in. The increase will apply from 1 July 2017 and will be paid on 15 December 2017.
Fonterra’s additional payment of 40 cents/kgMS is payable on top of the revised farmgate milk price, and brings the total average cash paid to $6.02kgMS.
Fonterra Australia Managing Director René Dedoncker said Fonterra’s Australian business is growing stronger as its product mix rebalances, enabling it to earn good returns from the market.