Synlait has increased its forecast base milk price for the 2024/2025 season from $8/kg MS to $8.60/kg MS.
In a statement released on NZX, it said that despite the 60-cent increase, it will continue to take a conservative approach to its 2024/2025 forecast, given the exposure to volatile future global dairy commodity prices at the beginning of the season.
“Retention of Synlait’s milk supply remains a critical priority for the company. Synlait is committed to delivering a competitive milk price and advanced rate profile, which has also been lifted for 2024/2025 to ensure the company’s on-farm offering remains attractive to farmer suppliers.”
Synlait’s final milk price for the 2023/2024 season will be confirmed when the company’s full-year result is released on September 30.
