Fonterra revises milk collection forecast

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Fonterra Co-operative Group Limited today revised the forecast for its 2022/23 New Zealand milk collections to 1,480 million kilograms of milk solids (kgMS), down from its previous forecast of 1,495 million kgMS.

Fonterra last reduced its 2022/23 milk collections forecast in early September. Fonterra CEO Miles Hurrell says this was due to weather conditions in parts of New Zealand causing a slow start to the season.