Fonterra, the world’s largest dairy exporter, has increased its milk price forecast to $4.75 (23.48 c/l) as milk supplies slow and export demand increases. Denmark's Arla is upping its price too.
The new forecast milk price coupled with dividend of approximately $0.5 cents per share will almost bring milk price to farmers cost of production.
John Wilson, Chairman of Fonterra said “current global milk prices remain at unrealistically low levels, but have started to improve as global demand and supply continue to rebalance.”
He also noted that milk production in New Zealand was 4% lower than last year and production in the European Union was falling.
ADVERTISEMENT
However, Fonterra cautioned that the dairy market would remain very volatile and the forecast would continue to be updated.
Arla
Meanwhile, the Danish-based co-op Arla, which collects milk in the UK, Germany, Sweden, Belgium and Luxemburg, has announced it would raise its price by 1.25c/kg in September.
This will bring its UK price to 20.05p/l (23.5c/l at the current exchange rate).
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
However, if you would like to share the information in this article, you may use the headline, summary and link below:
Title: Fonterra and Arla lift milk prices
Fonterra, the world’s largest dairy exporter, has increased its milk price forecast to $4.75 (23.48 c/l) as milk supplies slow and export demand increases. Denmark's Arla is upping its price too.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The new forecast milk price coupled with dividend of approximately $0.5 cents per share will almost bring milk price to farmers cost of production.
John Wilson, Chairman of Fonterra said “current global milk prices remain at unrealistically low levels, but have started to improve as global demand and supply continue to rebalance.”
He also noted that milk production in New Zealand was 4% lower than last year and production in the European Union was falling.
However, Fonterra cautioned that the dairy market would remain very volatile and the forecast would continue to be updated.
Arla
Meanwhile, the Danish-based co-op Arla, which collects milk in the UK, Germany, Sweden, Belgium and Luxemburg, has announced it would raise its price by 1.25c/kg in September.
This will bring its UK price to 20.05p/l (23.5c/l at the current exchange rate).
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS