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.