Fonterra slashes milk price forecast
More than $1 billion cut from expected payout to farmers due to ongoing weak China demand.
Dairy co-op Fonterra has reduced its forecast payout by $1 a kg of milk solids.
Dairy co-op Fonterra has slashed its forecast milk price for 2023/24 by $1 a kg of milk solids citing ongoing reduced demand in China, reducing the expected payout to farmers by more than $1 billion.
In a statement this morning Fonterra revised its forecast to a range of $6.25-$7.75 a kg, down from
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