Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
After its infamous 2015-16 'clawback', when it slashed farm-gate prices, the processor seems to be rebuilding bridges with Aussie suppliers.
In July this year, Fonterra announced it had collected 5.4 million kgMS in Australia, a 6.6% jump on the same time last year.
Tasmanian dairy farmer and Fonterra Australia Suppliers' Council Board chair Alan Davenport said the company had rebuilt trust since 2016.
However, Davenport said, while farmers had generally moved on, most hadn't forgotten about 2016.
Hopefully, the co-op's Aussie team haven't either.
