date:Aug 06, 2015
orld-wide overproduction, subdued demand from important markets such as China, and a glut sparked by Russias ban on U.S. and European food imports.
As a result of the soft auction, economists are reviewing what they expect Fonterra to pay its shareholders for their milk solids in the current season. Fonterra is forecasting a payout of 5.25 New Zealand dollars (US$3.43) per kilo of milk solid but is widely expected to lower that forecast at its board meeting Friday. ANZ Bank expects Fonterra to