New Zealand - reference product cost of milk for Fonterra 2017-2018

This statistic shows the cost of milk from reference products for Fonterra in New Zealand from 2017 to 2018 . In 2018, the cost of milk derived from reference products for Fonterra was estimated to be about 6.8 billion New Zealand dollars.

Cost of milk from reference products for Fonterra in New Zealand from 2017 to 2018 (in New Zealand million dollars)

Characteristic	Value in New Zealand million dollars
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Release date

September 2018

More information

Region

New Zealand

Survey time period

2009 to 2018

Special properties

years ended July 31

Supplementary notes

* Forecasted.

The Farmgate milk price is the price for milk supplied in New Zealand to Fonterra by farmer shareholders.

One New Zealand dollar is equal to approximately 0.66 U.S. dollars and 0.59 euros (as of June 2019).

Note: Reference products are products used in the calculation of the Farmgate Milk Price – WMP, SMP, BMP, Butter, AMF; Milk solids used in the products sold were 997m kgMS reference and 328m kgMS non-reference (year ended 31 July 2017 was 1,061m kgMS reference and 441m non-reference); Excludes bulk liquid milk volumes of 68,000 MT of kgMS equivalent (year ended 31 July 2017 was 76,000 MT); Excludes Foodservice volumes to China, Latin America and Quick Service Restaurants of 198,000 MT (year ended 31 July 2017 was 143,000 MT)

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