Which dairy companies are performing the best? The second edition of the TDB Dairy Companies Review points to strong performance from a number of Fonterra’s smaller rival firms with Fonterra losing market share as a consequence – now down to 82% from 96% back in 2001. If these smaller rival firms are able to fill the additional capacity they have announced at Fonterra’s expense, Fonterra market share could be down to 78% by 2020. Our analysis also indicates that Open Country Dairy, Synlait, and Miraka have generated returns in excess of their cost of capital while Fonterra and Westland have not on average over the last three years.

Read the full TDB report and related article in the Farmer’s Weekly (right).