One part of Fonterra's business is growing right now.
Fonterra says there is growing demand for organic dairy products in New Zealand, Australia, the United States and Asia.
It's recently increased the premium it pays farmers by 25 cents. So they are now being paid $1.75 more per kilogram of milk solids than traditional dairy farmers. That means they are looking at a payment of $5.60 per kilogram of milk solids, compared to the $3.85 Fonterra expects to pay its other farmers.
Fonterra is also offering an extra 45 cents to farmers while they go through the three-year process to be certified organic.
It's still a small part of Fonterra's overall business. But the cooperative says organic milk is "going well" and it wants more suppliers.
Watch the video for the full report.