Fonterra Co-operative Group Limited has changed its prediction for how much milk it will get from New Zealand in 2022/23 to 1,480 million kilogrammes of milk solids (kgMS). This is less than the 1,495 million kgMS it had predicted before.
Fonterra’s forecast for 2022/23 milk sales was last changed in early September. Miles Hurrell, the CEO of Fonterra, says that this was because the season got off to a slow start in some parts of New Zealand because of the weather.
“The changeable weather that caused a slow start on the farm has continued, which has led to lower collections in September and early October. This has caused us to change our collections forecast again,” Hurrell said.
“Because of this, we have changed our prediction for 2022/23 to be 1.0% lower, at 1,480 million kgMS.”
