NZ dairy farmers receive milk price boost – eDairyNews
Countries New Zealand United Kingdom |13 junio, 2018

boost | NZ dairy farmers receive milk price boost

NEW Zealand dairy farmers are looking forward to some cream in their mail boxes after milk giant Fonterra announced an opening forecast farmgate milk price of NZ$7 (£3.62) a kilogram of milk solids (kgMS) for the 2018/19 season.

The co-op also boosted its 2017/18 farmgate milk price forecast by 20 cents (10.3 pence) to NZ$6.75 (£3.49) a kgMS.

Chairman John Wilson said the strong 2018/19 opening milk price will be welcome news for farmers as they look ahead to the new season.

“What we are seeing is a continued positive global supply and demand picture,” he says.

“Demand is expected to remain strong – especially from China. We are expecting the global dairy market’s current prices, especially for fats, to continue throughout the new season.”

Fonterra is also forecasting New Zealand 2018/19 milk collections to be 1,525 million kgMS, a 1.5-per-cent increase on its forecast for the current season, and expects to see a lift in supply from the European Union, United States, Australia and Argentina.

Wilson says the 2017/18 price forecast increase reflects a global supply and demand picture that continues to be positive for farmers.

“Global dairy prices have risen since the start of the season,” he says

By: Terri Dougan

Source: FarmWeek


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