Fonterra cuts milk price forecast, says global conditions challenging

By FXStreet FXStreet (Mumbai) – Fonterra, New Zealand’s largest dairy exporter reduced milk price forecast to $4.15 and sees a cash payout of $4.50-$4.55 NZD per KGMS. The payout forecast was as high as $5.05-$5.15 in November.

Key quotes

On track to generate improved dividend returns

Prices are unsustainably low globally

Global conditions challenging

Still an imbalance between supply and demand

Dairy prices to improve later this calendar year
For more information, read our latest forex news. …read more

Source:: FX Street