Fonterra chairman John Monaghan says the co-op's improved milk price forecast is "good for our farmers and good for regional New Zealand".
Fonterra has increased its 2018/19 forecast Farmgate Milk Price range to $6.30-$6.60 per kgMS, up from up from its December forecast of $6-6.30/kgMS.
A slowing in global milk production, the EU's intervention stocks of Skim Milk Powder clearing, and an increased demand out of Asia has influenced the improved milk price forecast, Monaghan told Jamie Mackay on The Country today.
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