April 30, 2018

ACCC Dairy Report Statement

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

We’ve taken positive steps in our business to improve the way we work with our farmers, and many of these steps are in line with the various recommendations outlined in the final report – we’re providing greater transparency on the impacts of market movements into milk price, we’ve simplified our contracts, signed the industry-led voluntary Dairy Industry Code of Conduct Code and our farm price risk management offer has been in place for five seasons.

We’ve also recently launched Farm Source which includes digital innovation - this platform provides a range of services, including giving farmers the ability to enter their own production characteristics and obtain a reliable estimate of their final income.

Fonterra looks forward to working with industry to consider the ACCC’s recommendations further.