Fonterra has said that it will be reviewing its current 2010/11 payout forecast for milk due to a further drop in international dairy prices and a strong New Zealand dollar.The firm said today (4 August) that following its latest global dairy auction, the gDT-TWI index was down 8.3%. This followed a 13.7% decline at the July event. “Encouragingly, whole milk powder had strengthened slightly for the February to April period,” said CEO Andrew Ferrier. “But the New Zealand dollar was... ...Read more »

New Zealand dairy giant Fonterra has increased the forecast of what it expects to pay its farmer-shareholders for the current season. The company said it now expects to pay NZ$6.90-7.10 (US$4.70-4.84) for each kilogram of milk solids backed by a Fonterra share. This means the dairy co-operative’s forecast has increased by 50% to NZ$6.60 per kg of milk solid. Fonterra chairman Sir Henry van der Heyden said if international dairy prices and foreign exchange rates were to hold to current levels for... ...Read more »

Fonterra, the world’s largest dairy exporter, today announced a further increase in the forecast payout to its farmer-shareholders for the current 2009/10 season as their confidence in higher dairy prices rises. The Co-operative’s forecast of the total payount amount will increase 95 cents to $6.05 per kgMS. The new forecast compares with an opening forecast for 2009/10 of $4.55 per kgMS and a revised forecast of $5.10 per kgMS announced on 22 September 2009 and is a sign of the rapid,... ...Read more »