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Fonterra announces opening price

Fonterra Australia has announced its opening farmgate milk price for suppliers in Victoria for the 2014/15 season at $5.80 per kilogram of milk solids (kg/MS).

June 26, 2014 10:00am

Fonterra Australia has announced its opening farmgate milk price for suppliers in Victoria for the 2014/15 season at $5.80 per kilogram of milk solids (kg/MS).

It is forecasting a closing range of $6.10 to $6.30 kg/MS for the 2014/15 season.

Managing director of Fonterrra Australia, Judith Swales, said market factors will continue to impact prices through the 2014/15 season.

‘‘The global environment remains volatile and is evolving rapidly. We have recently seen global commodity prices decrease due to increased global production and our currency has appreciated. But, demand from key importing countries remains strong. We will continue to provide suppliers guidance on developments in the market as they unfold,’’ Ms Swales said.

Bonlac Supply Company (BSC) Chairman Tony Marwood said BSC welcomed the announcement from Fonterra Australia.

‘‘It’s great to see Fonterra Australia open with a strong price again this year. Price performance, along with support services, is key to ensuring the profitability of farmers.’’

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