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

 

Synlait Announces $7.00 Kgms Forecast Milk Price for 2019/20

28 MAY 2019

Synlait Announces $7.00 Kgms Forecast Milk Price for 2019/2020 Season

Synlait Milk’s (NZX: SML; ASX: SM1) opening forecast base milk price for the upcoming 2019 / 2020 season is $7.00 kgMS.

Synlait also announced its’ forecast base milk price for the 2018 / 2019 season has increased from $6.25 kgMS to $6.40 kgMS.

“The increase to $6.40 kgMS for this season is due to recovering dairy commodity prices since our last update in January 2019,” says Leon Clement, Synlait’s CEO.

“We’ve seen steady improvements in prices since the start of December, recovering a lot of the ground lost earlier in the season,” he says.

Synlait is positive about pricing for the 2019 / 2020 season but acknowledges the $7.00 kgMS relies on pricing remaining robust throughout the season.

“We think that’s realistic in the light of the current slowdown in world supply and strong demand from our key markets,” says Mr Clement.

“But as always, these forecasts are based on the best information available to us and we are recommending that our farmers remain cautious in the face of geopolitical and economic uncertainties. We will continue to assess movements to ensure our dairy farmers are kept up to date.”

Synlait’s final milk price for the 2018 / 2019 season will be confirmed alongside the annual result announcement in early September 2019. The forecast for the 2019/2020 season will also be updated at this time.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>

ALSO:

Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>

ALSO:


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>

ALSO:

Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: