(Reuters) - Dairy giant Fonterra on Friday cut its milk collection outlook for 2018/2019 for the second time this year, due to extreme dry weather in New Zealand affecting milk supply.
Fonterra reduced its forecast milk collection for 2018/2019 season to 1,510 million kg of milk solids (kgms), the company said in a statement.
In February, the Co-Operative had cut its forecast milk collections to 1,530 million kgMS from 1,550 million kgMS.
(Reporting by Shanima A in Bengaluru; Editing by Alexandra Hudson)
