KEY POINTS:
The dairy industry is expecting Fonterra to lift its payout forecast for this season by at least 30c a kilogram of milksolids after a board meeting on Thursday.
The cooperative is expected to reveal the payout boost in an announcement on Friday in which it will also re-set the price of its fair value shares and make its initial estimate of the payout for the 2008-2009 season, it was reported today.
Fonterra has a policy of revising payout estimates, other than its regular updates, only for movements of at least 30c, so a payout of at least $7.60/kg for this season is expected.
Last month the company put the forecast for 2007-2008 at $7.30/kg, which compares to the 2006-2007 payout of $4.46/kg, while Fonterra's previous record payout, $5.33/kg in 2002, was worth $6.14/kg in 2007 dollars.
- NZPA
