Fonterra Australia has today advised its farmers of an increase of 10 cents per kilogram of milk solids (kgMS) to its farmgate milk price for the 2017/18 season, bringing its average farmgate milk price to $5.62kgMS when changes to milk composition and the seasonal curve are factored in. The increase will apply from 1 July 2017 and will be paid on 15 December 2017.
Fonterra’s additional payment of 40 cents/kgMS is payable on top of the revised farmgate milk price, and brings the total average cash paid to $6.02kgMS.
Fonterra Australia Managing Director René Dedoncker said Fonterra’s Australian business is growing stronger as its product mix rebalances, enabling it to earn good returns from the market.
“Our plants, including our recently reopened Stanhope cheese plant, are operating efficiently,” said René.