NZ’s Fonterra to pay higher prices for milk to farmers in 2022/23 By Reuters


© Reuters. FILE PHOTO: The Fonterra logo is seen near the Fonterra Te Rapa plant near Hamilton August 6, 2013. REUTERS/Nigel Marple/File Photo/File Photo/File Photo

(Reuters) – New Zealand’s Fonterra said on Thursday it expects to pay a higher price to farmers for milk supply next year due to a jump in dairy demand and a strong U.S. dollar.

The dairy firm expects to pay between NZ$8.75 and NZ$10.25 per kilogram of milk solid (kgMS) in the 2022-2023 financial year, up from a prior forecast of NZ$8.25 to NZ$9.75 per kgMS.

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