Media

Fonterra Co-operative Group Ltd has today announced the internal appointment of two new management team members to help lead the Co-op’s step-change in strategic direction and announced an executive team member moving into a new role.

Fonterra Co-operative Group Ltd has today announced a step-change in its strategic direction, as it commits to deepening its position as a world-leading provider of high-value, innovative dairy ingredients.

Fonterra Co-operative Group Ltd’s FY24 Interim Results were announced today. Fonterra Australia delivered EBIT of NZ$42m (AU$39m). This was down 43% vs the first half of last year, mainly due to the high cost of milk in Australia, which is disconnected from global commodity prices.

Fonterra is integrating two important parts of its business, Fonterra Brands New Zealand (FBNZ) and Fonterra Australia. Together, this part of our business will be known as Fonterra Oceania.  

Fonterra Australia delivered EBIT of NZ$75 million (AU$69.3 million) in FY23, while paying a record-high milk price for Australian farmers and managing an operating cost increase of 23% on FY22.

Fonterra Australia today announced that the Fixed Base Milk Price for the 2018/19 season will be $5.90 per kilogram of milk solids (kg/MS), following the conclusion of its annual tender process.

Fonterra has acknowledged the ACCC’s release of its final report into the dairy sector.

Fonterra Australia increases farmgate milk price for the 2017/18 season.

Fonterra welcomes the ACCC’s interim report into the Australian dairy industry, and we look forward to providing feedback on this report.