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Synlait maintains milk price forecast for season

The forecast depends on commodity prices continuing to firm.

Plastic milk bottles
Company makes a new appointment to its senior leadership team

Synlait Milk Ltd (ASX:SM1 NZX:SML) has maintained its milk price forecast of $6.50 per kilogram of milk solids for the 2017/2018 season.

The price has been in place since May 2017 but the New Zealand-based company indicates that the forecast depends on commodity prices continuing to firm for the rest of the season.

Period of price stability

Although global pricing remains unpredictable, Synlait expects there may be a period a price stability in coming months.

Contributing to recent stability have been a strengthening global economic outlook, rising general commodity prices and reduced milk production forecast due to difficult weather conditions.

Synlait’s next milk price update for the season will be in May.

Senior leadership team appointment

The company has recently appointed Dr Suzan Horst to its Senior leadership team as director of quality, regulatory and laboratory services.

She has executive experience with large multinational dairy companies, including in overseeing of food safety in infant formula and fresh consumer dairy products.

Dr Horst will begin in the role on 1 April 2018.

Quick facts: Synlait Milk Ltd

Price: 8.92 AUD

ASX:SM1
Market: ASX
Market Cap: $1.6 billion
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