Dairy giant Fonterra has raised its forecast milk price payout to a midpoint of $10 - the second rise in less than a month.

The company says this new forecast reflects strong international demand, particularly from China and Southeast Asia.

Fonterra's CFO Andrew Murray says this news has been received positively by farmers.

"US production is very flat and European production is down - so the demand from imports is pretty good from our perspective and we've had a strong start to the season as well."

LISTEN ABOVE

Dairy giant Fonterra has&nbsp;raised its forecast milk price payout to a midpoint of $10 - the second rise in less than a month.
The company says this new forecast reflects strong international demand, particularly from China and Southeast Asia.
Fonterra's CFO Andrew Murray says this news has been received positively by farmers.
"US production is very flat and European production is down - so the demand from imports is pretty good from our perspective and we've had a strong start to the season as well."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Andrew Murray: Fonterra Chief Financial Officer on the company lifting its forecast Farmgate Milk Price to $10

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7831beff-e1f3-4808-a56f-b23d005fc04a/transcript

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