25 Jun 2015

More farmers choose to lock in guaranteed prices

1:52 pm on 25 June 2015

Fonterra says more farmers are choosing to lock in some of their milk at a guaranteed price for the new season.

The dairy co-operative set the price at $5.25 a kilo of milk solids, the same price as it forecast earlier this month.

Fonterra said 45.2 million kilos had been offered by 443 farms, more than double the number of farms that applied this time last year.

The company had scaled back applications by 16.5 percent because the programme was oversubscribed.

Farmers would get another chance to lock in prices in December.