Dairy giant Fonterra has increased its forecast farm gate milk price by NZ75 cents to $NZ6.00 per kilogram of milk solids for 2016/17.
Chairman John Wilson said the increase follows improvements in pricing since September after the progressive rebalancing of global supply and demand.
Fonterra - which processes more than a sixth of Australia's annual milk production - also reported a six per cent rise in first quarter revenue to $NZ3.8 billion ($A3.6 billion) from the same period a year earlier.
Share
