Episode 71 – A century of dairy unity: The rise of New Zealand’s co-ops
In this episode, Anne Lee talks with Fonterra’s Jim van der Poel about the evolution of New Zealand’s dairy industry. Jim reflects on the formation of Fonterra, capital structure reform, and the creation of DairyNZ, while highlighting the enduring value of the co-operative model and the Dairy Exporter’s role in guiding farmers through change.
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Hosts:
- Sheryl Haitana, Editor, Dairy Exporter
- Anne Lee, Deputy Editor, Dairy Exporter
Guest:
- Jim Van Der Poel, Retired Dairy Leader
Dairy leader Jim Van Der Poel reflects on the evolution of New Zealand’s dairy co-operative model and the key structural decisions that have shaped Fonterra’s journey. He explains how the milk price underpins farm value while dividends influence the share value, and why ensuring those returns are aligned is critical to maintaining trust and engagement from farmers.
Jim unpacks the rationale behind the shift to Trading Among Farmers, introduced to manage redemption risk, preserve farmer control, and allow flexibility for future capital structure changes. He shares insights into the merger of co-ops, the sacrifices made by early directors, and the enduring strength of collective decision-making driven by what’s best for the industry.
He also traces the origins of DairyNZ back to the deregulation of the Dairy Board, and how its formation, through the merging of Dexcel and Dairy InSight, has helped ensure ongoing research, extension, and farmer-driven progress. Jim highlights the importance of active farmer participation and the continued economic significance of dairy to New Zealand’s future.
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