WELLINGTON, Feb. 20 (Xinhua) -- New Zealand dairy giant Fonterra on Friday raised its forecast Farmgate Milk Price for the 2025/26 season, citing improving global commodity prices.
The farmer-owned co-operative lifted the midpoint from 9 NZ dollars (about 5.36 U.S. dollars) to 9.5 NZ dollars per kg of milk solids (kgMS), narrowing the forecast range to 9.2-9.8 NZ dollars per kgMS from the previous 8.5-9.5 NZ dollars, said a Fonterra statement.
Fonterra said it intends to distribute 100 percent of underlying earnings from its Mainland Group business during the current financial year as a special dividend of 14-18 cents per share following the unit's sale to French dairy company Lactalis.
The co-operative's forecast earnings guidance from continuing operations remains unchanged at 45-65 cents per share, it said.
Fonterra expects the Lactalis transaction to close in the first quarter of 2026, pending business separation and remaining regulatory approvals.
