Rising Milk Prices Are ‘New Normal,’ Fonterra Says
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High milk prices are “the new normal” and increased global commodity demand, led by emerging markets, is set to boost them further, according to Fonterra Cooperative Group Ltd., the world’s largest dairy exporter.
Whole-milk powder prices will likely remain at least 50 percent above their historical averages in the longer term, Chief Executive Officer Andrew Ferrier said in an interview today from Auckland.