Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Synlait Milk raises forecast milk price for FY2014 season

3 September 2013

Synlait Milk raises forecast milk price for FY2014 season

Continuing high international commodity prices have seen Synlait Milk increase its forecast milk price for the FY2014 season from $7.00 per kgMS to $8.00 per kgMS.

The Company also lifted its advance rates for the season effective from August paid September from $4.50 per kgMS to $5.00 per kgMS.

Synlait Milk announced last week that it will process more milk than forecast this season following a decision to take a significant allocation of DIRA milk that will increase total production volumes of its ingredients products.

Synlait Milk Managing Director John Penno says the Company remains confident in achieving its forecast financial result for FY2014.

“Higher than forecast revenue from high commodity prices and additional processing volumes mean we remain confident of achieving our FY2014 earnings targets at these increased milk prices.”

About Synlait Milk
Synlait Milk is focused on becoming a trusted supplier of choice to some of the world’s leading milk-based health and nutrition companies. The Company collects milk from approximately 159 farms in Canterbury, in the South Island of New Zealand, and manufactures a range of value added ingredient products and infant formula and nutritional products.

ENDS



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Oil Exploration: Chevron, Equinor Depart NZ

Chevron and Norwegian oil giant Equinor have opted to abandon their joint exploration efforts off the east coast of the North Island... Chevron said the decision not to proceed with the next five-year stage of their work programmes was based on the firms’ broader portfolio considerations and not “policy or regulatory concerns.” More>>

ALSO:

Reference Group Proposal: Motorists, MTI Support Ban On Less Safe Car Imports

A proposal to ban some used car models from being imported into New Zealand is being welcomed by the Motor Industry Association, which says Japan's scraps are being sent here for waste disposal. More>>

ALSO:

Gordon Campbell: On Asking The Banks To Be Nicer To Farmers

Few would begrudge the idea that banks should be made to act more humanely – given the obscene profits that the Aussie banks are extracting annually from New Zealand, they can surely afford to cut some slack. More>>

ALSO:

Wider Net Ban, Other Threats: Plan To Expand Protection For Maui And Hector’s Dolphins

The Government is taking action to expand and strengthen the protection for Māui and Hector’s dolphins with an updated plan to deal with threats to these native marine mammals. More>>

ALSO: