The small Waikato dairy co-operative Tatua has announced a final payout of $6.32 per kg of milksolids for the past season.
Tatua achieved $5.38 the previous year, which was the highest for the industry that season.
It's paying everything it earned to its farmer shareholders again this year, leaving it not too far short of the $6.37 that Fonterra suppliers will receive in milk payments and dividends.
Tatua has 111 suppliers based in the Hauraki Plains area. It often achieves the highest payout or close to it, with returns from specialty value-added food products and dairy ingredients.
But chief executive Paul McGilvary thinks it will be in the middle of the pack this year.
While demand for its products has been stronger, he says its product mix has been lower returning than some others, especially milkpowder.
Tatua's milk supply was down by almost 6% last year.
Mr McGilvary says the wet spring has meant a slow start to the current season, which is going to hit milk production again this year.
