Fonterra lowers milk price for farmers in 2022/23

The price drop is due to a fall in demand
calendar icon 26 August 2022
clock icon 1 minute read

New Zealand's Fonterra on Friday cut the price it would pay to farmers for milk in fiscal 2023 due to a fall in global dairy prices as demand was hit by inflationary pressures, reported Reuters.

The dairy firm said it expects to pay farmers between NZ$8.50 and NZ$10.00 per kilogram of milk solid (kgMS) in the 2022-2023 financial year, down from its prior forecast of NZ$8.75 to NZ$10.25 per kgMS.

Source: Reuters

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