August 9, 2018 / 8:55 PM / 3 months ago

NZ's Fonterra cuts milk price target

Aug 10 (Reuters) - New Zealand’s Fonterra Co-operative Group Ltd,, the world’s largest dairy exporter, on Friday cut its earnings guidance and slightly lowered its forecast for the farmgate milk price.

The Co-operative forecast the 2017/18 farmgate price at NZ$6.70 per kilogram of milk solids (kgMS), from NZ$6.75 per kgMS.

Reporting by Aditya Soni in Bengaluru; editing by Andrew Roche

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