Fonterra: 2016 payout expected at around NZ$6.25/kg

FXStreet (Bali) - Fonterra CEO Theo Spierings, speaking in an interview, notes that the company now sees 2016 payout at around NZ$6.25/kg milk solids, adding that he is confident that whole milk powder prices will normalize. Spierings also said that the company is "aiming for NZ$50m-$60m in cost savings this year."