WELLINGTON, July 13 (Xinhua) -- New Zealand's Fonterra Co-operative Group on Monday lowered its forecast 2026/27 farmgate milk price, citing weaker global dairy prices and stronger-than-expected supply.
The dairy exporter revised its forecast to 9.25 NZ dollars (about 5.33 U.S. dollars) per kilogram of milk solids (kgMS), with a range of 8 to 10.5 NZ dollars per kgMS, according to a Fonterra statement.
The update compares with an opening forecast of 9.75 NZ dollars per kgMS announced in May, which carried a wider range of 8 to 11 NZ dollars to reflect the potential for volatility and varied outcomes throughout the season, the statement said.
Fonterra maintained its 2025/26 forecast farmgate milk price at 9.6 to 9.8 NZ dollars per kgMS, with a midpoint of 9.7 NZ dollars. ■