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Fonterra confirms $6 farmgate price

NZ Newswire logoNZ Newswire 22/02/2017

Fonterra has confirmed its forecast farmgate milk price payout of $6 per kilogram of milk solids.

The November forecast was confirmed on Thursday morning, with chairman John Wilson saying the dairy giant was confident it was at the right level.

"The global outlook for dairy remains positive. Since November, the global market for commodity dairy products has remained relatively balanced and we expect global prices to continue to hold or gradually increase over the back half of this season - a view shared by most global analysts."

When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total pay-out available to farmers is forecast to be $6.50 to $6.60 before retentions.

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