Fonterra lifts forecast 2026/27 Farmgate Milk Price

30 October 2026 Fonterra lifts forecast 2026/27 Farmgate Milk Price Fonterra Co-operative Group Ltd has today increased the midpoint of the 2026/27 season forecast Farmgate Milk Price from $9.50 per kgMS to $9.75 per kgMS. The Co-operative has also lifted and narrowed the forecast range from $8.50 - $10.50 per kgMS to $9.00 - $10.50 per kgMS. CEO Richard Allen says the updated forecast is driven largely by improving demand for Whole Milk Powder (WMP) and Skim Milk Powder (SMP). "Over the last two events, our WMP and SMP pricing on Global Dairy Trade has increased by about 5% and 7% respectively. This is driven by sustained demand from across Southeast Asia, Middle East, Africa and China. “We have also had a good start to the season which sees our sales book well-contracted for this stage of the year, despite record milk collections, giving us confidence to lift and narrow the forecast range. “There’s plenty more to do, and we are continuing to monitor factors that could affect global supply and demand for dairy." The Co-operative has also today increased the Organic Milk Price, with the midpoint lifting from $14.30 per kgMS to $15.25 per kgMS, and the range moving from $13.30 - $15.30 per kgMS to $14.50 - $16.00 per kgMS. “Our teams will leverage our scale and flexibility to adapt and make sure we’re capturing the most value for our farmers’ milk,” says Mr Allen. ENDS For further information contact: Fonterra Communications Phone: +64 21 507 072