The lift follows its bi-monthly price review and the price will be effective from July 1 last year.
The payment will be made on February 15.
The increase comprises 13¢/kg of butterfat and 18¢/kg of protein.
Fonterra Australia managing director Rene Dedoncker said capturing strong commodity prices for cheese contracts in the first half of the year had enabled the company to deliver this step-up, and despite lower than forecast milk collections and inflationary pressures, demand for their domestic brands and products remained strong and their Australian business continued to perform well.
The company’s half-year results will be announced on March 16.
