Fonterra suppliers in Tasmania and Victoria will participate in the latest round of price increases with the announcement of a 13c/kg total milk solids increase for milk supplied since the start of July.
The increase will commence with November milk payments and follows the lift in prices announced last month by Murray Goulburn, Tatura and Burra Foods.
Fonterra national milk services manager Heather Stacy said the increase in prices followed a fourth consecutive monthly increase in Fonterra’s auction receipts for whole milk powder, highlighting the recovery in world dairy markets since prices collapsed last year.
Ms Stacy said Fonterra “remain determined to reflect any further significant improvement in market conditions in our price later this season.”
