Synlait Milk raises 2024/2025 milk price forecast

 New Zealand's Synlait Milk on Friday raised its forecast for the base milk price for the 2024-25 season, driven by the strengthening of global commodities prices, reported Reuters. 

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 raised its forecast earlier in the month.