The estimate is included in a prospectus for the issue of US$100 million of Negotiable Obligations called “Conahorro”.
In the prospectus, Conaprole estimated that the quantity of milk forwarded to plants will “decrease in 2009 due to the negative impact of the drought and the fall in the international prices, but that it will recover as from 2010”.
It expected that “export prices will start to improve once milk producing countries start to get rid of their stock surplus”. Besides, “locally, it is estimated that prices will remain relatively stable in actual terms”. It was also stated that no growth investments are foreseen for the next few years.
Source: Infortambo
