Fonterra dairy farmers on track for record milk price; with $13b economic boost

A Stuff article.

Fonterra has raised its forecast milk payment to farmers for this season to match its previous record high, as demand for dairy holds up while supply tightens.

The co-operative lifted and narrowed its forecast farmgate milk price range for the 2021/22 season to between $7.90 and $8.90 per kilogram of milk solids, from $7.25 to $8.75 per kgMS.

The midpoint of the range, which farmers are paid off, increased to $8.40 per kgMS, from $8 per kgMS. That would match the previous record paid in the 2013/14 season and would see almost $13 billion flow into regional New Zealand.

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