Fonterra CEO on global dairy prices surging

Author
Newstalk ZB,
Publish Date
Thu, 4 Mar 2021, 3:11PM
Photo / File
Photo / File

Fonterra CEO on global dairy prices surging

Author
Newstalk ZB,
Publish Date
Thu, 4 Mar 2021, 3:11PM

Fonterra is considering lifting its Farmgate Milk Price, following the latest surge in global dairy prices.

Prices rose 15-percent at yesterday's global dairy trade auction, with the all-important whole milk powder price up a staggering 21-percent.

Fonterra won't announce any changes to its farmgate price until next week.

But chief executive Miles Hurrell told Mike Hosking the result is positive, and there's no sign of one-off stockpiling.

"I'm confident of underlying demand from China. It's Chinese New Year, so they will be stocking their supplies chain as well. "

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