Fonterra has lifted its forecast farmgate milk price for the 2017-18 season by 25c to $6.75/kgMS.

Fonterra's revenue of $13.9 billion for the first nine months of 2016-17 is up 8% on the same period last year as a result of higher milk prices.

Fonterra chief executive Theo Spierings says a good net profit and a strong balance sheet are crucial for the co-op’s future.

Fonterra chairman John Wilson says a strong cooperative is able to support farmers when times are tough.

Fonterra says it remains committed to its social commitments despite the recent slump in dairy prices.

A new $240 million mozzarella plant announced today will double Fonterra’s capacity to produce its revolutionary individually quick frozen (IQF) mozzarella.

The global supply/demand is beginning to rebalance, says Fonterra chairman John Wilson.

Fonterra is in “pole position” compared to its competitors after a tremendous transformation, says chief executive Theo Spierings.

Fonterra is set to lose two more executives.

Fonterra is facing strong competition for milk supply in western Victoria.