Synlait lifts milk price to $10
Canterbury milk processor Synlait Milk has lifted its forecast base milk price for the season by 50c to $10/kgMS.
The company also lifted its advance rates for the season effective from August paid September from $4.50kgMS to $5kgMS.
Synlait Milk announced last week that it will process more milk than forecast this season following a decision to take a significant allocation of DIRA milk that will increase total production volumes of its ingredients products.
Synlait Milk managing director John Penno says the company remains confident in achieving its forecast financial result for FY2014.
"Higher than forecast revenue from high commodity prices and additional processing volumes mean we remain confident of achieving our FY2014 earnings targets at these increased milk prices."
