Trade

Fonterra cuts forecast farmgate price

 Fonterra Cooperative Group has cut its forecast payout to farmers for a second time as global demand growth lags behind an increased supply, including a bigger domestic milk collection. 

The firm now predicts it will pay $6.25-to-$6.50 per kilogram of milk solids for the 2019 season, down from a previous forecast of $6.75/kgMS and the $7/kgMS opening prediction in May.

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