New Zealand dairy group Fonterra predicts revival in milk price in 2016

New Zealand dairy group Fonterra is predicting a revival in dairy prices into 2016, despite its current struggles with the sluggish global dairy market.

The world’s largest milk exporter, Fonterra has laid off 835 staff globally in the past year, citing a sharp fall in dairy prices due to a slowing economy in China and global oversupply of milk.

Fonterra chairman John Wilson said: “There’s an expectation that dairy prices will move up through the first half of 2016.