Kiwi dairy giant Fonterra maintained its forecast for farmer payouts for the 2014/15 season, a released from the company revealed Wednesday.
The 2014/15 Farmgate Milk Price forecast was retained at NZ$6.00 per KgMS. With the previously estimated dividend range of 20-25 cents per share, the cash payout forecast is at NZ$6.20 to NZ$6.25.
Fonterra's chairman John Wilson said, "Current market views supported by our own forecasting indicate commodity prices improving later this year or in early 2015, with global demand for dairy continuing to grow year on year."
The dairy firm also said it would provide an update on business performance when it announces its annual results on September 24, 2014.
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