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Fonterra raises 2023-24 farmgate milk price to $7.80/kgMS due to strong global dairy trade and increased demand in ME, SE Asia.
Fonterra, a major global dairy exporter, has increased its 2023-2024 season forecast farmgate milk price by 30 cents.
The midpoint of the forecast price rose to $7.80 per kilogram of milk solids (kgMS), up from $7.50/kgMS.
The forecast range for the season increased to $7.30-$8.30/kgMS, up from $7-$8/kgMS.
Fonterra's CEO, Miles Hurrell, attributed the price increase to strong Global Dairy Trade (GDT) auctions and increased demand, particularly from the Middle East and Southeast Asia, for their reference commodity products.
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Fonterra aumenta el precio de la leche en granja para 2023-24 a 7,80 dólares/kg MS debido al fuerte comercio mundial de lácteos y al aumento de la demanda en ME y sudeste asiático.