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Fonterra to cut farmer payout but expects milk price to recover
2015-05-28 03:32:01| Food - Topix.net
Fonterra Cooperative Group, the world's biggest dairy exporter, forecast a recovery in milk prices even as it cut its estimated payout to New Zealand farmers for the current season. Fonterra Thursday lowered its 2014-15 payout by 10c to $NZ4.40 a kilogram of milksolids, and forecast a farmgate milk price of $5NZ5.25 a kilogram for the season ending May 2016.
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