Fonterra Australia has announced a step-up of seven cents per kilogram of milk solids (kgMS), bringing its average farmgate milk price for the 2018/19 season to $6.05kg/MS.
The step up will apply from July 1, 2018 and be paid on February 15, 2019.
Fonterra Australia managing director René Dedoncker said the increase will help support its farmers who continue to face challenging conditions.
“Rising costs for feed and water continue to be a challenge for our farmers, and we hope this price increase helps to ease some of the pressure for the remainder of the season," he said.
See next week's Country News for more.