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Dairy

WMP

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Whole Milk Powder (USD/MT)

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Dairy Production by State
VIC63.2%
NSW12.8%
TAS11%
SA6%
WA4%
QLD3.4%

Source: Dairy Australia / ABARES — 2024-25

Key Production Regions
Western VICAustralia's largest single dairy region, pasture & irrigation mix
23%
GippslandPasture-based, relies on natural rainfall
21%
Murray / Northern VICIrrigation-dependent, centred on Shepparton
21%
Northern Rivers (NSW)Subtropical volcanic soils, Norco cooperative base
TasmaniaHigh-rainfall zone, fastest-growing dairy state
11%
Major Companies
Saputo Dairy AustraliaVIC, TAS
  • Leading processor (ex Murray Goulburn, acquired 2018)
  • Parent: Saputo Inc, TSX: SAP (Revenue CA$19B)
Fonterra AustraliaVIC, TAS
  • World's largest dairy exporter
  • 8 Australian plants
  • Revenue NZ$26B (2025)
  • NZX: FCG
Bega GroupNSW, VIC
  • Bega, Vegemite, Dairy Farmers brands
  • Revenue A$3.54B (2025)
  • ~3,900 employees
  • ASX: BGA
a2 Milk Company
  • Premium A2-protein dairy & infant formula, strong China market
  • Revenue NZ$1.76B (2025)
  • ASX: A2M
Lactalis AustraliaVIC, NSW, QLD
  • Pauls, President, Oak brands
  • Revenue A$2.5B (2024)
  • ~2,200 employees
  • 1B+ kg dairy/year
  • Parent: Lactalis (private)
Bulla Dairy FoodsVIC
  • Family-owned since 1910
  • Revenue ~A$400M
  • Ice cream, cream, cheese
  • Private
NorcoNSW, QLD
  • 100% farmer-owned cooperative, 120+ years
  • Revenue A$780M (2025)
  • 191 member farms, 205M litres milk
Industry Bodies
Dairy AustraliaNational service body for the Australian dairy industry