Fonterra FY26 Results: $9.69 Milk Price, $3.4bn Profit
Fonterra has unveiled its annual results for the 2026 financial year, posting $27 billion in revenue and close to $20 billion returned to New Zealand farmer owners and unit holders.
Whole milk powder produced will be exported to more than 20 markets worldwide including the Middle East, China and Southeast Asia.
Fonterra's director logistics network, Robert Spurway, says at the peak of the season, the drier will run 24 hours a day, seven days a week. It will produce more than 700 metric tonnes – the equivalent of 45 shipping containers – each day.
"The demand for dairy nutrition around the world, especially for whole milk powder, is still strong. Drier Two will ensure that Fonterra has the capacity to meet this demand and to process ongoing milk growth in Canterbury, the fastest growing dairy region in New Zealand.
"The new drier will help the cooperative meet the growing demand for dairy nutrition globally and will play an important role in Fonterra's strategy to optimise its New Zealand milk business.
"With Drier Two now online at Darfield we are taking fresh milk, from farms within a 65km radius from the site, and have successfully completed our first production run of whole milk powder."
The drier's first production run marked the completion of Fonterra's $500 million dollar development of its Darfield site over the past three years.
"Seeing the second drier up and running after Drier One's successful first season of operation is testament to the co-op's manufacturing capabilities," Spurway says.
Darfield key facts
• Darfield's Drier Two is the world's largest milk powder drier.
• The drier has the capacity to produce up to 30 metric tonnes of whole milk powder per hour, and 700 metric tonnes per day.
• Drier Two produced 100 metric tonnes of whole milk powder during its first production run.
• More than 1500 staff and contractors worked more than 700,000 man hours to deliver this world class milk processing facility.
• Fresh milk is collected from Fonterra's farmer shareholders', within a 65km radius, delivered by tanker to Darfield, then processed into whole milk powder and packed into 25kg bags. These bags are then packed onto pallets, loaded into containers and delivered to port via the Darfield Rail Link for export to more 20 markets worldwide.
