Fonterra Fonterra sets milk forecast mid-range at $6.35/kg

Fonterra has set its milk price for the season just finished at $6.35 per kg of milk solids - in the middle of its previously forecast range.

The co-op also left unchanged its forecast for the current 2019/20 year in a $6.25 to $7.25/kg range.

Fonterra had previously forecast a range of $6.30 to $6.40/kg for the 2018/19 season.

The co-op earlier announced a net loss of $605m for the year to July 31, compared with a loss of $196m.

Fonterra's normalised earnings before interest and tax came to $819m, down 9 per cent for the year.