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BRIEF-Fonterra Co-operative group says Fonterra Australia revises milk price

Published 05/05/2016, 10:37 am
Updated 05/05/2016, 10:40 am
© Reuters.  BRIEF-Fonterra Co-operative group says Fonterra Australia revises milk price

May 5 (Reuters) - Fonterra Co-Operative Group Ltd FCG.NZ :

* Fonterra Australia revises milk price & offers support loan

* Revised its farmgate milk price from AUD5.60 per kgms to AUD5.00 per kgms for the current season

* Currently expects that the revised milk price will reduce cost of goods sold for Fonterra Australia by around AUD 48 million

* Fonterra is maintaining its current guidance range and will continue to take a responsible approach

* Also offering suppliers an interest-bearing support loan of up to 60c per kgms that is linked to a supply commitment

* Loan to suppliers repayable from FY 2018

* Source text for Eikon ID:nASX8fl0rx

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