Synlait Milk (NZE:SML, ASX:SM1) increased its forecast base milk price for the 2024 to 2025 season to NZ$9 per kilogram of milksolids (kgMS) from NZ$8.60 per kgMS, according to a Thursday filing with the New Zealand bourse.
The increase is driven by continued strengthening global commodities prices and contractions in global supply, the filing stated.
Shares in Synlait Milk rose past 1% in recent Thursday trade in New Zealand.
Price (AUD): $0.41, Change: $+0.0050, Percent Change: +1.23%
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