Fonterra Lifts 2026/27 Season Farmgate Milk Price Forecast Midpoint To NZ$9.50 Per KgMS

(Adds further details from paragraph 3 onwards) Sept 21 (Reuters) — New Zealand dairy company Fonterra on Monday raised the lower end of its milk price forecast for the 2026/27 season, citing improvements in global commodity prices. The dairy producer narrowed the annual forecast for farmgate milk price — the price it pays to farmers for milk — to NZ$8.50 to NZ$10.50 per kilogram of milk solids (kgMS) from prior expectations of NZ$8.00 to NZ$10.50 per kgMS. The midpoint of the new forecast range of NZ$9.50 per kgMS is higher than the NZ$9.25 per kgMS midpoint of the earlier forecast. “Since our last update in July, Global Dairy Trade auction results for key commodity products, particularly whole milk powder and skim milk powder, have improved," said CEO Richard Allen, adding that the company continues to see strong global demand. The company in mid-July trimmed the top end of its forecast for the season on softer-than-expected demand and robust global supply. (Reporting by Nichiket Sunil in Bengaluru Editing by Nick Zieminski) ((Nichiket.Sunil@thomsonreuters.com;)