May 23, 2017 / 8:47 PM / 4 months ago

Fonterra raises farmgate milk forecast payout to $6.15

WELLINGTON, May 24 (Reuters) - New Zealand dairy giant on Fonterra on Thursday lifted its forecast payout to farmers for the 2016/2017 season by NZ$0.15 to NZ$6.15 per kilogram on rising global dairy prices.

The company said in a statement to the stock exchange that it was forecasting a Farmgate Milk Price of NZ$6.50 per kilogram for the 2018 season.

Fonterra held steady its target dividend in 2017 of NZ$0.40 per share. (Reporting by Charlotte Greenfield)

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