NZ's Synlait Milk raises milk price forecast for 2024/2025 season
Dec 13 (Reuters) -New Zealand's Synlait Milk SML.NZ on Friday raised its forecast for the base milk price for the 2024-25 season, driven by the strengthening of global commodities prices.
The company said it now expects the base milk price for the 2024-25 season to be NZ$10 per kilogram of milk solids (kgMS), up from NZ$9.50 per kgMS.
The base milk price is what the company pays to farmers.
Synlait previously hiked its milk price forecast in November, while rival Fonterra FCG.NZ raised its forecast earlier in the month.
Reporting by Nichiket Sunil in Bengaluru; Editing by Shreya Biswas
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