October 9, 2018 / 7:50 PM / 14 days ago

REFILE-NZ's Fonterra lowers Farmgate Milk price forcast

(Refiles to fix dateline)

Oct 10 (Reuters) - Fonterra Group Ltd said on Wednesday it lowered its 2018-2019 guidance for its Farmgate Milk price due to a glut in global milk supply.

The world's largest dairy exporter lowered the price for farmgate milk to a range of NZ$6.25 to NZ$6.50 per kgMS from the prior NZ$6.75 per kgMS. (Reporting by Nikhil Subba in Bengaluru. Editing by Jane Merriman)

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