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Fonterra Australia has today advised its farmers of an increase of 7 cents per kilogram of milk solids (kgMS) to its farmgate milk price for the 2018/19 season. This brings its average farmgate milk price to $6.05kgMS, which will apply from 1 July 2018 and be paid on 15 February 2019.
Fonterra Australia Managing Director René Dedoncker said the increase will help support its farmers who continue to face challenging conditions.
“There have been some positive signs in global conditions, with recent improvements in GlobalDairyTrade prices and the clearing of SMP stockpiles in Europe, however Australian production continues to decline due to drought and high input costs. This is leading to increased competition across our dairy regions, particularly in northern Victoria,” said René.
“Rising costs for feed and water continue to be a challenge for our farmers, and we hope this price increase helps to ease some of the pressure for the remainder of the season.
“We will continue to monitor currency and global dairy prices and keep our farmers updated throughout the season.”