December 20, 2017 / 8:09 PM / a year ago

New Zealand's Fonterra cuts milk collection forecast for 2017/18 season

Dec 21 (Reuters) - New Zealand dairy co-operative Fonterra said on Thursday it expected lower milk collection for the 2017/18 season, hurt by dry weather sweeping the country.

Fonterra said in a statement it was reducing its milk collection forecast for the season to 1,525 million kilograms of milk solids (kgMS), from an earlier forecast provided in June of 1,575 million kgMS.

It also said its dairy exports from New Zealand fell 7 percent in October, facing pressure from export growth from the European Union. (Reporting By Rushil Dutta in Bengaluru; Editing by Adrian Croft)

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