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Fonterra has announced an increased payout forecast range for the 2012 season of $6.90-$7.00 per kilogram of milksolids (kgMS), up 20c on the previous forecast.
The revised forecast comprises a Fonterra farmgate milk price of $6.50 per kilogram of milksolids (kgMS), up from $6.30 kgMS.
Fonterra chairman Sir Henry van der Heyden said the new forecast reflected a modest recovery in global dairy commodity prices over the past two months.