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Fonterra farmer's received "mixed news," this week with the co-op's milk price and earnings announcement said Robert Spurway.

Fonterra's Chief Operating Officer of Global Operations spoke to The Country Early Edition's Rowena Duncum about the announcement and what it means for farmers.

Fonterra increased its 2018/19 forecast Farmgate Milk Price range to $6.30-$6.60 per kgMS, but also revised down its forecast earnings per share.

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The co-op also announced it will not be paying an interim dividend.

Listen below:

The improved milk price forecast reflects increases in global milk prices over the last quarter said Spurway.

Other influences include the EU's intervention stocks of Skim Milk Powder clearing, and an increased demand out of Asia.

Also in today's interview: Spurway discusses why the co-op revised down its forecast earnings per share and Fonterra's interest in complementary nutrition.