Farmgate Milk Prices

New Zealand is unique in that 95 per cent of milk production is exported with Fonterra collecting around 87 per cent of the milk. As a result, there is no ‘market price’ set through competition for supply.

Fonterra instead calculates a Farmgate Milk Price using independently approved methodology. This enables total returns to be allocated between payments for milk and returns on the share capital invested by farmer shareholders and unit holders in the Co-operative.

Read how the Farmgate Milk Price is calculated or view Milk Price Statements and Manuals.

2016/17 SEASON

  Farmgate Milk Price Forecast Cash Payout
(Milk Price plus Dividend)
Forecast Payout
(Milk Price plus Earnings)
Press releases
Forecast Update, 18 November 2016 $6.00 N/A $6.50 - $6.60 Here
Forecast Update, 21 September 2016 $5.25 NA $5.75 - $5.85 Here
Forecast Update, 25 August 2016 $4.75 NA $5.25 - $5.35 Here
Forecast Update, 1 August 2016 $4.25 NA $4.75 - $4.85 Here
Opening Forecast,
26 May 2016
$4.25 NA NA Here

2015/2016 season

  Farmgate Milk Price Forecast Cash Payout
(Milk Price plus Dividend)
Forecast Payout
(Milk Price plus Earnings)
Press releases
Forecast Update, 8 March 2016 $3.90 NA $4.35 - $4.45 Here
Forecast Update, 28 January 2016 $4.15 NA $4.60 - $4.70 Here
Forecast Update, 10 December 2015 $4.60 NA $5.05 - $5.15 Here
Forecast Update, 16 November 2015 $4.60 NA $5.05 - $5.15 Here
Forecast Update,
24 September 2015
$4.60 NA $5.00 - $5.10 Here
Forecast Update,
7 August 2015
$3.85 NA $4.25 - $4.35 Here
Opening Forecast,
28 May 2015
$5.25 NA NA Here

2014/2015 season

  Farmgate Milk Price Forecast Cash Payout
(Milk Price plus Dividend)
Forecast Payout
(Milk Price plus Earnings)
Press releases
Forecast Update,
28 May 2015
$4.40 $4.60 - $4.70 NA Here
Forecast Update,
30th April 2015
$4.50 $4.70 - $4.80 NA Here
Forecast Update,
25 March 2015
$4.70 $4.90 - $5.00 NA Here
Forecast Update,
10 December 2014
$4.70 $4.95 - $5.05 NA Here
Forecast Update,
24 September 2014
$5.30 $5.55 - $5.65 NA Here
Forecast Update,
29 July 2014
$6.00 $6.20 - $6.25 NA Here
Opening Forecast,
28 May 2014
$7.00 NA NA Here

2013/2014 season

  Farmgate Milk Price Forecast Cash Payout
(Milk Price plus Dividend)
Forecast Payout
(Milk Price plus Earnings)
Press releases
Forecast Update,
28 May 2014
$8.40 $8.50 NA Here
Forecast Update,
27 February 2014
$8.65 $8.75 NA Here
Forecast Update,
11 December 2013
$8.30 $8.40 NA Here
Forecast Update,
24 September 2013
$8.30 $8.62 NA Here
Forecast Update,
27 August 2013
$7.80 $8.12 NA Here
Forecast Update,
31 July 2013
$7.50 $7.82 NA Here
Opening Forecast,
29 May 2013
$7.00 NA NA Here

2012/2013 season

  Farmgate Milk Price Forecast Cash Payout
(Milk Price plus Dividend)
Forecast Payout
(Milk Price plus Earnings)
Press releases
Forecast Update,
29 May 2013
$5.80 $6.12 NA Here
Forecast Update,
27 March 2013
$5.80 $6.12 NA Here
Forecast Update,
27 February 2013
$5.50 NA $5.90 - $6.00 Here
Forecast update,
10 December 2012
$5.50 NA $5.90 - $6.00 Here
Forecast Update,
28 August 2012
$5.25 NA $5.65 - $5.75 Here
Opening forecast,
22 May 2012
$5.50 NA $5.95 - $6.05 Here

2011/2012 season

  Farmgate Milk Price Forecast Cash Payout
(Milk Price plus Dividend)
Forecast Payout
(Milk Price plus Earnings)
Press releases
Forecast Update,
22 May 2012
$6.05 NA $6.45 - $6.55 Here
Forecast Update,
12 March 2012
$6.35 NA $6.75 - $6.85 Here
Forecast Update,
13 Dec 2011
$6.50 NA $6.90 - $7.00 Here
Forecast Update,
2 Sep 2011
$6.75 NA $7.15 - $7.25 Here
Opening Forecast,
24 May 2011
$6.75 NA $7.15 - $7.25 Here