Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
His comments come after a meeting in Wellington yesterday with Prime Minister Jacinda Ardern and senior ministers.
“We are looking forwards to working with the Government on the review undertaken by Minister O’Connor (Agriculture Minister Damien O’Connor),” he says.
Monaghan says apart from briefing Government on its annual results, they discussed other matters relating to the industry. He did not elaborate.
Monaghan was accompanied by new chief executive Miles Hurrell.
