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.
The latest Rabobank 2026 World Dairy Map confirms that New Zealand accounted for 22.1% of world dairy exports in 2025 - retaining the tag of the world's largest single-country dairy exporter.
The EU bloc continues to be the world's largest dairy exporter overall, accounting for 27% of world dairy exports in 2025, however their export share is also slowly eroding.
The US - the world's next largest global dairy exporter behind the EU and New Zealand - is growing dairy exports across recent years.
However, New Zealand's consistent contribution to world dairy exports must be applauded.
Over the last eight years, New Zealand's contribution to global dairy exports has held remarkably steady, oscillating between a high of 23 billion kgMS and a low of 21 billion kgMS. And since 2023, New Zealand's contribution has held constant at 22 billion kgMS.
This has a positive flow-on effect on rural communities and the wider economy.
Fonterra's milk price directly injects over $13-$14 billion into New Zealand's economy annually, including rural businesses connected to the dairy industry.
The report also challenges past claims that dairy is a "sunset industry".
There will always be challenges, including market volatility, international competition and changing consumer preferences.
However, as the report confirms that New Zealand dairy remains globally relevant, internationally competitive and critically important to our country's economic future.
Credit goes to the team of farmers, processors and employees, sharemilkers, farm workers, scientists and support staff behind NZ dairy's phenomenal success.
