NZ's Synlait Milk raises milk price forecast for 2024/2025 season

Synlait Milk

12/12/2024 19:51

Dec 13 (Reuters) - New Zealand's Synlait Milk  SML.NZ 
on Friday raised its forecast for the base milk price for the
2024-25 season, driven by the strengthening of global
commodities prices.
    The company said it now expects the base milk price for the
2024-25 season to be NZ$10 per kilogram of milk solids (kgMS),
up from NZ$9.50 per kgMS.
    The base milk price is what the company pays to farmers.
    Synlait previously hiked its milk price forecast in
November, while rival Fonterra  FCG.NZ  raised its forecast
earlier in the month.

 (Reporting by Nichiket Sunil in Bengaluru; Editing by Shreya
Biswas)
 ((Nichiket.Sunil@thomsonreuters.com;))