Friday, 13 December 2024 08:49

Synlait lifts milk price to $10

Written by Sudesh Kissun

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Synlait is matching Fonterra's forecast milk price mid-point.

Canterbury milk processor Synlait Milk has lifted its forecast base milk price for the season by 50c to $10/kgMS.

The listed processor, majority-owned by China’s Bright Dairy, is now matching Fonterra’s forecast milk price mid-point.

In a statement to NZX, Synlait says the increase follows ongoing strengthening in global commodities prices, since Synlait’s last milk price update on 25 November 2024.

Synlait remains committed to delivering a competitive milk price, advanced rates, and to ensure its on-farm offering remains highly attractive to farmer suppliers.

Forecasts are based on the best information available to Synlait at the time. Synlait will continue to monitor movements and update farmer suppliers as required, the company says.

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