12% more for milk in New Zealand

INTERNATIONAL dairy product markets continue to improve, with a 12% increase in milk prices in New Zealand on the basis of improving prices for dairy commodities, and the President of the International Dairy Federation welcoming signs of prices stabilising, and initial signs that prices will start to rise.

Fonterra CEO Andrew Ferrier said a trend was firming in the international market, of more positive sentiment and stronger demand, producing better pricing across the board.

But extreme price volatility made forecasting challenging.