Fonterra welcomes the ACCC's interim report

We agree that change is required in our industry and have already taken positive steps in our business, many of which are in line with the various recommendations outlined in the report – we’ve simplified our contracts, signed the voluntary Dairy Industry Code of Conduct, we’re providing greater transparency on the impacts of market movements into milk price and our farm price risk management offer has been in place for the past four seasons.

We’re working on substantial changes to our business including ownership options, such as a co-operative model, and digital innovations to support on-farm profitability.