Fonterra provides 2022/23 Farmgate Milk Price update
26 August 2022
Fonterra provides Milk Price update
• 2022/23 forecast Farmgate Milk Price range revised from NZ$8.75-$10.25 per kgMS to
NZ$8.50-$10.00
Fonterra today revised its 2022/23 forecast Farmgate Milk Price range from NZ$8.75-$10.25 per kgMS to
NZ$8.50-$10.00 per kgMS.
This reduces the midpoint of the range from NZ$9.50 to NZ$9.25 per kgMS, however the current advance
payment rate of NZ$5.70 per kgMS is unchanged.
Fonterra Chief Executive Miles Hurrell says “the change in the 2022/23 forecast Farmgate Milk Price will
be disappointing for our farmers but it reflects a number of factors, including the recent downward trend in
global dairy prices driven by some short-term softening in global demand, and the general impact of
inflation on purchasing behaviour. However, we believe the longer-term outlook for dairy remains
positive,” says Mr Hurrell.
Fonterra will release its financial results for the year ending 31 July 2022 on Thursday, 22 September
2022.
-ENDS-
For further information contact:
Fonterra Communications
24-hour media line
Phone: +64 21 507 072
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