Milk matters to people everywhere. Dairy products are amongst the most important of all traded food products.

Traded dairy products are fundamental and trade is dominated by a few particular dairy commodities: Whole Milk Powder (WMP), Skim Milk Powder (SMP), Butter (BTR), Anhydrous Milk Fat (AMF) and Cheese.

Of these, WMP and SMP are the most basic and important. New Zealand is a major global player in these products, exporting 99% of its milk production in the form of dairy commodities. Nearly half of all WMP exports come from New Zealand.

Price volatility in the dairy industry has been unprecedented in recent years and this creates risk for all market participants. This volatility is expected to continue, driving demand for a set of risk management tools that offer dairy participants globally the opportunity to create price certainty.

The launch of NZX Global Dairy Futures and Options provides the dairy industry with a forward view of dairy prices and a cash settled instrument for managing price risk simply and efficiently.

Contact Us

For more information on the NZX Dairy Futures Market, please call +64 (9) 368 1242 or email

For trade related enquiries please contact NZX Market Surveillance on +64 (4) 495 2829 or email