Friday, July 1, 2022

Fonterra revises milk collection forecast

Variable weather and challenging growing conditions has led to Fonterra revising its milk collection forecast from 1525 million kg milksolids to 1500m kg MS for the 2021-22 season.

Fonterra has revised its collection forecast for the 2021-22 season.

Variable weather and challenging growing conditions has led to Fonterra revising its milk collection forecast from 1525 million kg milksolids to 1500m kg MS for the 2021-22 season.

Fonterra chief executive Miles Hurrell said the challenging conditions across many parts of the country earlier in the season saw actual milk collections down on the same time last year.

“We were expecting conditions to improve over the Christmas-New Year period, but this has not eventuated,” Hurrell said.

“As a result, we have revised our 2021-22 forecast down 1.6% to 1500m kg MS.”

At this stage no change is needed to the volume of product Fonterra is offering on the Global Dairy Trade (GDT) platform, he said.

“Due to the high demand for off-GDT sales, we had already reduced the volume we were offering on the GDT platform earlier in the season,” he said.

“We will continue to monitor the situation and carefully manage our sales both on and off-GDT.”

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