Canterbury-based dairy company Synlait has increased its forecast milk payout prices for suppliers for the 2019/2020 season.
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The improved forecast comes on the back of higher than expected commodity prices Photo credit: Supplied

It has lifted the expected base milk price for the season to $7.25 kgMS from $7.00 kgMS after healthy global dairy prices.

“Synlait increased its forecast milk price to $7.25 for the current season on the back of higher than expected commodity prices at the end of 2019, which we believe will hold in the medium term as supply and demand continue to be evenly matched,” said Synlait CEO Leon Clement.

The delay in details being issued on the proposed dairy reduction scheme is “playing with the futures” of farm families, according to the Irish Creamery Milk Suppliers’ Association (ICMSA).

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