fbpx
Print this page
Thursday, 28 May 2020 10:36

Synlait's milk price drop

Written by  Staff Reporters
Synlait chief executive Leon Clement. Synlait chief executive Leon Clement.

Canterbury milk processor Synlait has reduced its 2019-20 forecast base milk price by 20c to $7.05/kgMS.

Synlait chief executive Leon Clement says that in line with other commodities, dairy prices have eased significantly this year.

“As a result (prices) are lower than we were anticipating when the forecast was set in January.”

Synlait’s opening forecast for the 2020- 21 season is $6/kgMS.

Clement says COVID-19 has created significant global uncertainty. 

“We don’t yet have a clear view of COVID-19’s economic impact, but we do know it will impact demand, resulting in our decision to release a conservative opening forecast for the 2020- 2021 season.”

More like this

More pain

OPINION: The pain continues at listed Canterbury milk processor Synlait.

Synlait braces for heavy loss

Listed Canterbury milk processor Synlait is heading towards its first financial loss ever, but is telling its farmer suppliers not to worry.

More trouble for Synlait

Embattled Canterbury milk processor Synlait has taken another hit, with key customer and shareholder a2 Milk issuing its fourth earnings downgrade.

Quitters?

OPINION: This old mutt wonders what it is about tall, balding, ex-Fonterra executives and their (non) ability to handle life once they leave the safety of the big dairy co-op.

National

Machinery & Products

Effluent injection goes XL

Dutch effluent specialist Vredo is testing 15 and 18-metre wide slurry injection rigs for the upcoming 2022 spreading season.

Choosing the right pump

Choosing the right pump for an effluent system is the key to ensuring a system works well and gives many…

Spreading muck with ease

Palmerston North headquartered Strautmann Hopkins Ltd imports the extensive range of Strautmann Muck Spreaders for farmers and contractors, built by…