Fonterra has confirmed the price that will apply in a guaranteed milk pricing scheme it is trialling this season.
Earlier this year a pilot programme was announced that will allow farmers to lock in a milk price announced at the beginning of a season for up to three-quarters of their milk supply.
Fonterra is looking for about 200 farms to take part in the trial. They will get a guaranteed price of $7 per kg of milk solids, which matches its opening forecast for the season.
Commodity risk and trading director Bruce Turner said the guaranteed price will help farmers who want more certainty in planning for the farming year, by telling them exactly how much money they will receive for a set portion of their milk supply.
Farmers interested in taking part in the pilot need to apply by 5 pm on Friday, 21 June.