Thursday, 10 October 2024 10:56

Synlait lifts milk price to $9

Written by  Staff Reporters
The 40c jump in Synlait’s milk price matches Fonterra’s mid-point. The 40c jump in Synlait’s milk price matches Fonterra’s mid-point.

Canterbury milk processor Synlait has lifted its forecast base milk price for the 2024/2025 season to $9/kgMS.

The 40c jump in Synlait’s milk price matches Fonterra’s mid-point and points to further consolidation around a minimum $9 payout for the season.

Synlait says continued strengthening in global commodities prices, off the back of contractions in global supply, drive this forecast increase.

The company says that it remains committed to delivering a competitive milk price, advanced rates, and to ensure its on-farm offering remains highly attractive to farmer suppliers.

Forecasts are based on the best information available to Synlait at the time, it says.

Synlait will continue to monitor movements and update farmer suppliers as required.

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