Fonterra Farmgate milk price FY 2011-2024

In financial year 2024, the Farmgate milk price for milk supplied to Fonterra was 7.83 New Zealand dollars per kilogram of milk solid. This was a decrease from the previous year, in which the Farmgate milk price was 8.22 New Zealand dollars per kilogram of milk solid. 

Fonterra Co-operative Group Limited

Fonterra is a prominent dairy cooperative based in New Zealand and is one of the largest dairy companies in the world. In 2020, Fonterra secured the third position among the top 20 global dairy corporations, as measured by their market share percentage of worldwide milk production. Over the years, the company has played a pivotal role in New Zealand's economy, contributing significantly to the nation's dairy exports. In 2024, Fonterra's sales revenue declined slightly compared to the previous year.

Dairy industry in New Zealand

New Zealand has a thriving dairy export industry, with dairy products being a significant contributor to the country's economy. During the financial year 2023, New Zealand's dairy industry export revenue reached a high, although this was forecast to decline slightly in the coming years. Key dairy exports from New Zealand include fluid milk, butter, cheese, and milk powder, with many products finding markets in Asia, particularly China. The industry has faced challenges related to price fluctuations and international trade dynamics, but it continues to be a vital sector in New Zealand's agricultural and export landscape.