Synlait’s increase follows strengthening in global commodities prices since last update in early October.
Synlait has increased its forecast base milk price by 50 cents to $9.50/kg MS for the 2024-2025 season.
The increase follows recent strengthening in global commodities prices since Synlait’s last update on October 10.
In a statement on NZX, the company said: “Synlait remains committed to delivering a competitive milk price, advanced rates, and to ensure its on-farm offering remains highly attractive to farmer suppliers.
It comes after Fonterra lifted its forecast midpoint from $9 to $9.50/kg MS and narrowed its forecast range from $8.25-$9.75 per kg MS to $9-$10/kg MS earlier this month. This was driven by strong demand for commodity products as seen in the past few GDT auctions.
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