Tuesday, 08 October 2024 09:55

Miraka lifts milk price

Written by Staff Reporters

font size decrease font size increase font size

Miraka chief executive Karl Gradon.

Taupo-based dairy company Miraka has lifted its forecast milk price for the season to $9.17/kgMS.

Miraka chief executive Karl Gradon says he expects the company's milk suppliers will be pleased with the strong 2024-25 season price update.

"Our farmers have experienced a difficult and challenging period, with lower commodities over time and higher operating expenses and interest rates.

"We're supporting them with a strong 2024/25 season forecast milk price."

Miraka's milk price is 17c above Fonterra's mid-point for the season.

Miraka's 2023-24 final milk payout is $8/kgMS. Fonterra's final Farmgate Milk Price for the 2023/24 season finished at $7.8/kgMS. This, combined with the 55 cents per share dividend, provides a total cash payout to a fully shared-up farmer of $8.38/kgMS. The dividend includes a special 15c return to farmers.

Fonterra Co-operative Council chair John Stevenson says the special dividend of 15 cents per share, on top of interim and final dividends totalling 40 cents per share, demonstrates the strength of Fonterra's balance sheet.

"In addition, the special dividend is a welcome acknowledgement of the tough times faced by shareholders in the relatively recent past when the returns from ownership were not adequate."

More like this

What Would Synlait Be Worth to Fonterra or a2 Milk?

Speculation of a possible joint move by Fonterra and a2 Milk to buy Synlait raises a much bigger strategic question, says agribusiness expert Dr Nic Lees.

Why 'Fork to Farm' Beats Farm to Fork, Expert Says

In the past, much has been made of the concept of farm to fork, but an Australian expert in food science and marketing with experience in the dairy industry, Dr Angeline Achariya, says the reverse of this slogan is critical to win modern day consumers.

Four-Year Trial Confirms Plantain Cuts N Losses 33%

A four year trial has reaffirmed that mixing plantain into dairy pastures can help reduce nitrogen losses to freshwater while maintaining milk production and profitability, say researchers.

Fonterra Opens Upgraded Chengdu Application Centre

Fonterra has opened its upgraded Chengdu Application Centre, bringing New Zealand dairy expertise closer to customers in one of China's fastest-growing regions.

Stephen Allen to Step Down as Tatua Chair After 23 Years

Tatua chair Stephen Allen says he leaves the co-op with a deep sense of gratitude for the people who have contributed to its success.

Featured

Editorial: The Value of Credibility

OPINION: In politics, credibility is and should be big. It must surely rank higher than charisma, which is quite trite and superficial. Yet, voters nowadays are often wooed and influenced by how someone looks or talks at a superficial level. TV plays a huge role in this.

DairyBase and MINDA Link Up to Cut Farmer Paperwork

Farmers can spend less time on paperwork, thanks to a new data sharing agreement between DairyNZ’s DairyBase and LIC’s MINDA software.

Kaikōura Families Get School Run Lifeline After Storm

Kaikōura families affected by July's severe storm have found a practical solution to a problem that's kept some children away from regular schooling for weeks: a washed-out section of Inland Kaikōura Road, which has stopped the local school bus from running its usual route.

Rural NZ Welcomes $8.5m Government Health Package

Rural New Zealand is welcoming the Government’s recent package of rural healthcare initiatives.

Massey Adds New Majors in Agritech, Animal Science

Interest in agritech and production animal systems has prompted Massey University's School of Agriculture and the Environment to new majors to its popular animal science degree.