Synlait forecast milk price update
Synlait Milk Limited · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com
NZX: SML
ASX: SM1
11 August 2023
Synlait forecast milk price update
Synlait Milk Limited (Synlait) has reduced its forecast base milk price for the 2023 / 2024 season to
$7.00/kgMS from $8.00/kgMS.
The reduction is due to dairy commodity prices declining against previous expectations. Whole milk
powder and skim milk powder prices have fallen 12% and 11% since Synlait’s last update in May 2023
to the lowest levels in three years. Subdued global economic activity continues to weigh down prices,
and the slowdown of the Chinese economy and an increase in their domestic milk production also
means China’s demand for dairy imports has weakened to multi-season lows.
Forecasts are based on the best information available to Synlait at the time. Synlait's final milk price
for the 2022 / 2023 season will be confirmed when the company's full year 2023 result which will be
released on Monday 25 September 2023. The 2023/2024 season forecast will be updated at the
same time.
For more information contact:
Hannah Lynch
Head of Strategy & Corporate Affairs
P: +64 21 252 8990
E: hannah.lynch@synlait.com
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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