Fonterra has increased its farmgate milk price forecast for the 2017/18 season to $6.75 per kilogram of milksolids from its previous forcast of $6.50/kg.
The co-operative, (in its first earnings guidance for the new financial year), announced a forecast earnings per share range of 45 to 55 cents, making the forecast total available payout to farmers in the 2017/2018 season $7.20 to $7.30, before retentions.
Fonterra's Chairman John Wilson said this was welcome news for farmers when he spoke to The Country's Dom George today.
Listen to the full interview in the Soundcloud embed below:
