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BRIEF-Fonterra forecasts milk collection in New Zealand for 2016/17 season down 3%

Published 17/06/2016, 08:39 am
BRIEF-Fonterra forecasts milk collection in New Zealand for 2016/17 season down 3%

June 17 (Reuters) - Fonterra Co-Operative Group Ltd FCG.NZ :

* Forecast Fonterra milk collection in New Zealand for the 2016/17 season down 3%

* Season to date, Fonterra New Zealand milk collection decreased 3%

* "Dairy exports remain strong for New Zealand, Australia and Europe but the United States is down largely due to increased domestic demand"

* "China, Asia and Latin America continue to see strong growth in dairy imports, while the Middle East and Africa imports have softened"

* Total New Zealand milk production decreased 3% in April compared to the same month last year

* Australia production in April decreased 3%

* Australia production for the 12 months to April decreased 1% compared to the same period the previous year

* Total New Zealand dairy exports in April increased 13% compared to the same month last year

* Australia production has been impacted by dry conditions across many dairying Regions, especially Victoria, and the low milk price environment

* Fonterra's milk collection across New Zealand in may was 6% higher than may last season

* Australia milk collection in May reached 7.7 million kgms, 18% lower than May last season

* In New Zealand for the full 2015/16 season, milk collection reached 1.57 billion kgms, 3% behind the 2014/15 season

* Source text for Eikon ID:nNZW3Vj3c5

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