(Reuters) – New Zealand’s Fonterra said on Thursday it expects to pay a higher price to farmers for milk supply next year due to a jump in dairy demand and a strong U.S. dollar.
The dairy firm expects to pay between NZ$8.75 and NZ$10.25 per kilogram of milk solid (kgMS) in the 2022-2023 financial year, up from a prior forecast of NZ$8.25 to NZ$9.75 per kgMS.
(Reporting by Roushni Nair in Bengluru; Editing by Aditya Soni)