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

 


Fonterra Maintains Forecast Farmgate Milk Price for 2014/15

27 August 2014
Fonterra Maintains Forecast Farmgate Milk Price for 2014/15 Season
Fonterra Co-operative Group Limited today maintained its forecast Farmgate Milk Price for the 2014/15 season at $6.00 per kgMS.

Along with a previously announced estimated dividend range of 20-25 cents per share, the forecast Cash Payout for the season is $6.20-$6.25.

Chairman John Wilson said the decision to maintain the forecast Farmgate Milk Price reflected the longer term outlook for international prices for dairy.

“Current market views supported by our own forecasting indicate commodity prices improving later this year or in early 2015, with global demand for dairy continuing to grow year on year.

“While the long-term market fundamentals remain sound, we need to recognise that the current market conditions are difficult and there remains further downside risk.

“There is still volatility. This reflects challenges with supply and demand following a good dairy season globally. Given these factors, the forecast is our best judgement at this time.

“It is early in the season, and it is important that our farmers continue exercising caution with their farming business budgets. The reality is, we expect to see ongoing volatility, and we will keep our farmers informed as we move forward. If market conditions change our view, we will update them.

“We will be providing an update on business performance when we announce our Annual Result on 24 September 2014,” said Mr Wilson.

Fonterra is required to consider its Farmgate Milk Price every quarter as a condition of the Dairy Industry Restructuring Act (DIRA).
- ENDS -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Scoop Business: ComCom Charges Hawkins’ Finance Companies Over Debt Recovery

The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. More>>

ALSO:

Science Media Centre: The Big Science Stories Of 2014

It was a dramatic year for science, one that witnessed a severe outbreak of Ebola in West Africa and an historic mission to land a space probe on a comet. On the home front... headlines with animal testing for 'legal highs', 1080 use to tackle increased pest numbers and court action over genetically modified organisms among the most-covered stories. More>>

ALSO:

Tis The Season For Route Announcements: Air NZ Will Start Direct Flights To South America

Air New Zealand, the national carrier, will start its first scheduled service to South America, with direct flights between Auckland and Buenos Aires in Argentina starting in December next year, as it seeks to expand its services in the Pacific Rim. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news