About

Fonterra is a global dairy nutrition company owned by 10,000 farmers and their families. Read about our company and about our farmers and markets.

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Investors

Are you an investor with Fonterra? Read about our current performance with our financial results, or find information on our dividend programme.

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Careers

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DIRA Public Notices

DIRA Public Notices and Statutory Reviews

Raw milk regulations.

Forecast and actual Information

2019/2020 season

March 2020 - Forecast for the 2019/20 Season

- PDF,

December 2019 - Forecast for the 2019/20 Season

- PDF,

September 2019 - Forecast for the 2019/20 Season

- PDF,

June 2019 - Forecast for the 2019/20 Season

- PDF,
2018/2019 season

October 2019 – Actual for the 2018/19 Season

- PDF,

March 2019 – Forecast for the 2018/19 Season

- PDF, 368.7 kB

December 2018 – Forecast for the 2018/19 Season

- PDF, 21.6 kB

September 2018 – Forecast for the 2018/19 Season

- PDF, 26.5 kB

June 2018 – Forecast for the 2018/19 Season

- PDF, 127.4 kB
2017/2018 season

October 2018 – Actual for the 2017/18 Season

- PDF,

March 2018 – Forecast for the 2017/18 Season

- PDF, 120.1 kB

June 2017 - Forecast for the 2017/18 Season

- PDF, 119.3 kB

September 2017 – Forecast for the 2017/18 Season

- PDF, 398.3 kB

December 2017 – Forecast for the 2017/18 Season

- PDF, 119.7 kB
2016/2017 season

October 2017 - Actual for the 2016/17 Season

- PDF, 226.6 kB

March 2017 - Forecast for the 2016/17 Season

- PDF, 131.7 kB

December 2016 - Forecast for the 2016/17 Season

- PDF, 22.4 kB

September 2016 - Forecast for the 2016/17 Season

- PDF, 7.5 kB

June 2016 - Forecast for the 2016/17 Season

- PDF, 119.7 kB
2015/2016 season

October 2016 - Actual for the 2015/16 Season

- PDF, 115.0 kB

March 2016 - Forecast for the 2015/16 Season

- PDF, 119.0 kB

December 2015 - Forecast for the 2015/16 Season

- PDF, 119.0 kB

September 2015 - Forecast for the 2015/16 Season

- PDF, 118.8 kB

June 2015 - Forecast for the 2015/16 Season

- PDF, 118.4 kB
2014/2015 season

October 2015 - Actual for the 2014/15 Season

- PDF, 115.6 kB

March 2015 - Forecast for the 2014/15 Season

- PDF, 20.4 kB

December 2014 - Forecast for the 2014/15 Season

- PDF, 118.8 kB

September 2014 - Forecast for the 2014/15 Season

- PDF, 108.5 kB

June 2014 - Forecast for the 2014/15 Season

- PDF, 108.5 kB
2013/2014 season

Statement Under Section 150N of the DIRA

- PDF, 204.6 kB

October 2014 - Actual for the 2013/14 Season

- PDF, 107.7 kB

June 2014 - Forecast for the 2013/14 Season

- PDF, 108.7 kB

March 2014 - Forecast for the 2013/14 Season

- PDF, 20.4 kB

December 2013 - Forecast for the 2013/14 Season

- PDF, 20.6 kB

September 2013 - Forecast for the 2013/14 Season

- PDF, 20.5 kB

June 2013 - Forecast for the 2013/14 Season

- PDF, 108.7 kB
2012/2013 season

October 2013 - Actual for the 2012/13 Season

- PDF, 19.0 kB

June 2013 - Forecast for the 2012/13 Season

- PDF, 20.1 kB

March 2013 - Forecast for the 2012/13 Season

- PDF, 20.1 kB

December 2012 - Forecast for the 2012/13 Season

- PDF, 102.9 kB

September 2012 - Forecast for the 2012/13 Season

- PDF, 102.7 kB

June 2012 - Forecast for the 2012/13 Season

- PDF, 97.4 kB
2011/2012 season

October 2012 - Actual for the 2011/12 Season

- PDF, 97.6 kB

March 2012 - Forecast for the 2011/12 Season

- PDF, 93.7 kB

December 2011 - Forecast for the 2011/12 Season

- PDF, 114.5 kB

September 2011 - Forecast for the 2011/12 Season

- PDF, 97.3 kB

June 2011 - Forecast for the 2011/12 Season

- PDF, 97.2 kB

Milk Price methodology.

Since the financial year ended 31 July 2009, the Farmgate Milk Price has been calculated in accordance with the Farmgate Milk Price Manual. The Farmgate Milk Price determines the amount paid for milk delivered to the farmgate by farmer shareholders.

Farmgate Milk Price Manual.

It is calculated in accordance with the Farmgate Milk Price Manual as follows.

As required under the DIRA, the Commerce Commission carries out a Statutory Review of both the Milk Price Manual and the Milk Price Calculation annually. For more information about the review process and for copies of the Commerce Commission’s reports can be located below.

Commerce Commission

Under section 150H of the Dairy Industry Restructuring Act 2001 (as amended in July 2012) the Commission is required to review Fonterra’s Milk Price Manual for each season and make a report on the extent to which it is consistent with the purpose set out in section 150A of the Act. To assist the Commission’s review Fonterra needs to provide the Milk Price Manual for the current season, together with recommendations of the Milk Price Panel in relation to the Setting of the Base Milk Price, notification of required changes, certification of why it meets the purpose, and supporting reasons before 1 August each year. The Commission is required to make its final report by 15 December each year.

Under Section 150O of the Dairy Industry Restructuring Act 2001 (as amended July 2012) the Commission must review Fonterra's calculation of the base milk price for each season and report on the extent to which it is consistent with the purpose set out in section 150A of the Act. To assist the Commission's review Fonterra must provide (by 1 July in each year) the assumptions adopted and the inputs and processes used by Fonterra in calculating the base milk price for the preceding season. They must also provide certification (including reasons) that the assumptions inputs and processes are consistent with the purpose set out in section 150A of the Act. The Commission is required to make its final report by 15 September each year.

Statutory review of Milk Price manual

2014/2015 season

Fonterra Milk Price Manual 2015 Season

- PDF, 810.2 kB

Fonterra Reasons Paper

- PDF, 4.8 MB

Commerce Commission Process Paper

- PDF, 354.2 kB

Commerce Commission Draft Report

- PDF, 739.7 kB

Fonterra Submission on Draft Report

- PDF, 818.7 kB

Commerce Commission Final Report

- PDF, 758.3 kB
2013/2014 season

Fonterra Milk Price Manual 2014 Season

- PDF, 1.1 MB

Fonterra Reasons Paper

- PDF, 1.1 MB

Commerce Commission Process Paper

- PDF, 72.3 kB

Commerce Commission Draft Report

- PDF, 659.9 kB

Fonterra Submission on Draft Report

- PDF, 2.1 MB

Commerce Commission Final Report

- PDF, 79.8 kB

Statutory Review of Milk Price Calculation

2014/2015 Season

Commerce Commission Process Paper

- PDF, 358.2 kB

Appendix to Commerce Commission Process Paper

- PDF,

Fonterra Submission on Process Paper

- PDF, 634.1 kB

Fonterra Reasons Paper

- PDF, 1.3 MB

Appendix to Fonterra Reasons Paper (Asset Beta Report)

- PDF,

Appendix to Fonterra Reasons Paper (Version of 2013/14 Milk Price Model)

- PDF,
2013/2014 Season

Commerce Commission Process Paper

- PDF, 364.0 kB

Fonterra Submission on Process Paper

- PDF, 267.0 kB

Fonterra Reasons Paper

- PDF, 653.9 kB

Commerce Commission Invitation for Submissions

- PDF, 348.7 kB

Commerce Commission Draft Report

- PDF, 1.7 MB

Commerce Commission Analysts' Briefing Slides

- PDF, 1.3 MB

Peter Walker Report

- PDF, 1.1 MB

Fonterra Submission on Draft Report

- PDF, 1.7 MB

Commerce Commission Final Report

- PDF, 1.5 MB
2012/2013 Season

Commerce Commission Process Paper

- PDF, 79.8 kB

Fonterra Submission on Process Paper

- PDF, 661.9 kB

Fonterra Reasons Paper

- PDF, 1.4 MB

Commerce Commission Key Issues Paper

- PDF, 237.4 kB

Fonterra Submission on Key Issues Paper

- PDF, 482.7 kB

Commerce Commission Draft Report

- PDF, 1.5 MB

Fonterra Submission on Draft Report

- PDF, 818.7 kB

Parsons Brinckerhoff Report

- PDF, 593.0 kB

Commerce Commission Final Report

- PDF, 1.6 MB