Miraka has updated its milk price forecast $9.17/kg MS for the current season as well as confirming $8/kg MS for the 2023-2024 season.
Miraka CEO Karl Gradon said he expects the company’s milk suppliers to be pleased with the strong forecast.
“Our farmers have experienced a difficult and challenging period, with lower commodities over time and higher operating expenses and interest rates. We’re supporting them with a strong 2024/25 season forecast milk price.”
Miraka general manager of on-farm excellence Joan Barendsen said their farmer-supplier’s average farm performance has continued to go from strength to strength during the past season under their farming excellence programme, Te Ara Miraka.
“In June, we celebrated a record 13 farms which achieved excellence, qualifying each farm for an extra premium payment of $0.20 cents per kilogram of milksolids under Te Ara Miraka.”
Since the on-farm excellence programme was launched in 2016, Miraka has paid out more than $25 million in premiums to its dairy farmers.
In Focus Podcast | Fonterra brings the spring flush
Reporter Hugh Stringleman joins Bryan to discuss Fonterra’s bumper annual result. It posted a $1.128 billion profit after tax, announced a 55 cent per share dividend and lifted its forecast milk price for the 2024-2025 season by 50 cents to a new midpoint range of $9/kg MS.
