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NEW ZEALAND'S second largest dairy cooperative Westland Milk Products has revised its payout prediction for the 2014-15 season to $5.40 - $5.80/kgMS.

WESTLAND HAS announced a pay-out prediction of $6 to $6.40/kgMS before retentions for the 2014-15 season just started.

Westland Milk Products says it is registered to export dairy products including infant formula milk powder to China.

Independent dairy processor, Westland Milk Products is building a new $102 million nutritionals dryer at its Hokitika site.

WESTLAND MILK has confirmed its 2012-13 operating surplus is $6.34/kgMS, with a retention of 30c, a 7% increase on the initial season opening budget.

Westland Milk says its new infant formula range launched in China last week is attracting strong interest from consumers.

WESTLAND MILK Products has bagged a top R&D award, winning the 'Best use of Research and Development in International Business' award, 2012.