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.
Ashburton agribusiness consultant and farmer Macfarlane told Dairy News he is honoured to be given the chance by Fonterra farmers to make a further contribution to repositioning the cooperative.
“We have the opportunity to unify our efforts, as well as improve performance to a level that delivers more value to our shareholders and our communities.
“The unique position of Fonterra in NZ carries a high level of responsibility on all of us to do our part.
“I take my share of that responsibility to look after our land, our environment, our people and our community wealth, very seriously.”
Edgecumbe farmer Donna Smit is delighted and humbled to be re-elected.
“It’s a great endorsement of the board and management’s direction of travel, although we still have a lot of work to do.”
Macfarlane and Smit defeated three other candidates -- Cathy Quinn, Philip Haas and Victor Rutherford.
Smit was impressed by the calibre of the candidates who stood this year.
“The election process is good in that it makes you reflect on what you have contributed as an individual and as a team,” she said.
“It focuses you on what you want for the future and it reconnects you with what’s important -- serving our farmer shareholders. I feel energised by the task ahead.”
In the shareholder council elections, only two wards required elections as sitting councillors and candidates in eight other wards walked in unopposed.
Whakatane farmer and lactose champion Gerard van Beek is a new councillor for eastern Bay of Plenty.
Van Beek has been publicly pushing for the value of lactose to be included in the farmgate milk price.
Vaughn Brophy, coastal Taranaki, retained his seat.
Former council chairman Ian Brown was elected unopposed as the Fonterra farmer custodian trustee.
