NZ Guaranteed Milk Price scheme oversubscribed at 17ppl

Published 26 June 15

New Zealand processor Fonterra has set its June Guaranteed Milk Price (GMP) at $5.25/kgMS (kilos of milk solids), equivalent to around 17ppl. The programme was oversubscribed by around 70 million litres, with more than twice as many farms applying compared to the same time last year. Locking in a price for a percentage of milk production allows farms to use GMP as a risk management tool, helping plan for the 2015/16 season.