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.
OPINION: Fears of a summer without a daily swim have been doused in Tangiteroria, near Whangarei, after Fonterra Kauri filled the community pool as a donation.
The pool at Tangiteroria School had been empty since the local fire brigade used the water to combat a blaze that destroyed the Tangiteroria Sports Complex in January this year.
With the school unable to weather the cost of filling the pool from their bore and then treating the water with expensive chemicals and lacking rainwater in its tanks, the pool had sat empty all winter.
On November 6, Fonterra filled the pool with five truckloads of clean water, or roughly 160,000 litres. It took one truck most of a day, going back and forth from Tangiteroria and the Fonterra Kauri plant.
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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.
The chance of a $10-plus milk price for this season appears to be depleting.