Fonterra Australia raises farmgate milk prices for 2017-18 by 20 cents

Fonterra’s Australian operation has lifted its milk price by 20 cents due to improved market conditions.

Key Details via The Weekly Times

Fonterra Australia has lifted its average milk price for the 2017/18 dairy to $5.50 ($NZ5.85) per kilogram of milk solids.

The company has also updated its forecast closing milk price range to $5.50 to $5.80, from $5.40 to $5.80 previously.

Fonterra Australia will still pay farmers an extra 40 cents per kilogram of milk solids that was announced in May.

Also read: Fonterra raises its farmgate milk price forecast