Dairy Trends: Chinese dairy imports decline as demand wanes
In a further sign of the improving returns in global dairy markets, New Zealand dairy processor Synlait has increased its farmgate milk price forecast to $6/kg (30c/litre). This latest increase comes just days after Fonterra also lifted its forecast milk price to 30c/litre.
The rising milk price in New Zealand is a response to falloff in milk collections from farmers this season. In October, the month of peak milk supply in New Zealand, Fonterra’s milk collections were down 8.3% compared with last year.
However, while the tightening supply situation in New Zealand indicates that dairy prices should ...