Dairy Co-operative, Fonterra Shareholders Fund (ASX:FSF) has reported its total New Zealand milk production was flat for the 12 months to June compared to the same time last year.
Australian milk production increased by 3 per cent over the 12 month period, the company says the growth was driven by production in the South East of Australia.
Meantime, EU and US milk production were up 3 per cent and 1 per cent respectively for the period.
The dairy Co-operative said US and European exports increased while New Zealand exports were slightly down and Australian exports were flat in May.
Shares in Fonterra (ASX:FSF) closed 0.64 per cent higher to $4.73 yesterday.