Fonterra Co-operative has reaffirmed its forecast farmgate milk price range at €3.96-4.30 per kgMS and its forecast full-year underlying earnings guidance of €0.085-0.14 per share.
Milk and dairy product prices are on the rise, but the ability to pass on these increases through the supply chain to consumers is a challenge, according to the latest RaboResearch Dairy Quarterly report.
In contrast to tightening milk supplies in the EU as a whole, UK milk production has been hitting 20-year highs every month so far this year, according to the UK AHDB.
NZMP, the dairy ingredients brand of Fonterra, has refreshed its risk and commercial solutions, which, during volatile and uncertain market conditions, help customers gain confidence through improved price and supply certainty.
Australian supermarket Woolworths will stop selling milk for $1 per litre, increasing the price of its entire own-branded milk range to $1.10 per litre in a bid to support a more sustainable Australian dairy industry.