Synlait revises milk price forecast to $9.00/kgMS
Synlait Milk Limited · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com
NZX: SML
ASX: SM1
19 December 2022
Synlait revises milk price forecast to $9.00/kgMS
Synlait Milk Limited (Synlait) has reduced its forecast base milk price for the 2022 / 2023 season to
$9.00/kgMS from $9.50/kgMS.
The revised forecast reflects weaker global demand since September 2022, when Synlait’s last
update was provided. Demand has weakened as the cost-of-living increases globally, and economic
activity in China remains suppressed due to COVID-19 restrictions.
Synlait CEO Grant Watson commented: “Based on softer dairy commodity prices across the first half
of the 2022/23 season, and the outlook for the remainder of the season we believe it is appropriate to
lower our forecast base milk price to $9.00/kgMS.”
Forecasts are based on the best information available to Synlait at the time. Synlait will continue to
monitor movements and keep its farmer suppliers up to date.
For more information contact:
Hannah Lynch
Head of Corporate Affairs & Brand
P: +64 21 252 8990
E: hannah.lynch@synlait.com
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Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- FSF — Fonterra Shareholders' Fund: Fonterra revises Forecast Milk Price and Milk Collections2023-02-23
“24 February 2023 Fonterra revises FY23 Forecast Farmgate Milk Price and Collections Fonterra Co-operative Group Ltd today reduced and narrowed its 2022/23 season forecast Farmgate Milk Price range from $8.50 - $9.50 per kgMS, with a midpoint of $9.00, to NZ$8.20 - $8.80…”
- FCG — Fonterra Co-operative Group Limited: Fonterra revises Forecast Milk Price and Milk Collections2023-02-23
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- FSF — Fonterra Shareholders' Fund: Fonterra revises milk collection forecast2022-10-14
“14 October 2022 Fonterra revises milk collection forecast Fonterra Co-operative Group Limited today revised the forecast for its 2022/23 New Zealand milk collections to 1,480 million kilograms of milk solids (kgMS), down from its previous forecast of 1,495 million kgMS.…”