Fonterra Co-operative Group's (NZE:FCG) New Zealand milk production increased 2% in January year-over-year, while its Australia milk production increased 1.5% over the same period, according to a Friday New Zealand bourse filing.

The increase in New Zealand was driven by higher collections in the South Island from on-farm productivity gains and continuing momentum later into the season, while higher year-over-year collections were observed in all Australian regions except South Australia.

The firm's New Zealand collections for January were 169.6 million kilograms of milk solids, 2.3% above January 2025, while its Australia collections in January were 10.3 million kilograms of milk solids, 4.5% higher year-over-year.

New Zealand dairy exports decreased 4.5% in January compared to the prior-year period, mainly due to lower export volumes of WMP to Indonesia, partially offset by higher export volumes of fluid milk products. Australia's dairy exports decreased 4% in December 2025 year-over-year.

Its European Union milk production increased 6.1% in December 2025, compared to the prior-year period, while its US milk production increased 4.4% year-over-year in December 2025.