Fonterra seen raising price it pays to milk suppliers
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Wellington
NEW Zealand dairy co-operative Fonterra is expected to raise the price that it pays its milk suppliers as lower production due to drought has stemmed supply and lifted global dairy prices from multi-year lows.
When the world's largest dairy exporter updates its farmgate price on Thursday, analysts expect it to raise its payout to as much as NZ$5 (S$5.10) per kg milk solids, up 6 per cent from NZ$4.70 announced in December, its lowest since 2007.
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