New Zealand's Synlait Milk hikes 2024/25 milk price forecast
Nov 25 (Reuters) -New Zealand's Synlait Milk SML.NZ raised its base milk price forecast for the 2024/25 season on Monday, as global commodities prices continue to strengthen.
The company said it now expects the base milk price for the 2024/25 season to be NZ$9.50 ($5.55) per kg of milk solids (kgMS), up from its previous projection of NZ$9.00 per kgMS.
The base milk price is what a dairy company pays to farmers for milk.
Synlait previously hiked its base milk price forecast in October, while peer Fonterra FCG.NZ raised its forecast earlier this month, amid rising global dairy prices.
($1 = 1.7123 New Zealand dollars)
Reporting by Aaditya Govind Rao in Bengaluru;
Editing by Helen Popper
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