Fonterra & ASB
First Farm Award
An exciting new initiative for first-time farm buyers, the Fonterra & ASB First Farm Award provides financial and strategic support to help the best in the industry successfully launch into farm ownership.
A collaboration between Fonterra, ASB, and the NZDIA Trust, the award aims to remove barriers to farm ownership by offering financial backing, mentorship, and industry support.
The three winners will receive a stellar prize package including:
Up to $1 million of ASB Business Term Lending fixed at 1% per annum for three years
$20,000 of Farm Source account credit to invest in their first farm
A tailored package from Fonterra to enable their transition into farm ownership including mentoring, enhanced support and special offers
ASB’s lending criteria, terms and fees apply. Lending must be used exclusively for purchasing a first farm. NZDIA and Fonterra / Farm Source terms and conditions apply.
How to Enter
Check Eligibility
You must not be a farm owner or a previous farm owner. Winners will be required to supply milk to Fonterra and become a Fonterra shareholder once the farm has been purchased (but being an existing Fonterra supplier is not a prerequisite for entering).
Download & Submit Entry Form
Download, complete the entry form and email it to admin@nzdia.org.nz to receive further details on what to include.
What Next?
On receipt of your entry form you will be emailed instructions detailing what to do next. Submissions to be sent to the NZDIA by 31 March 2025. Shortlisted entrants must be available for Nationals Week (8 - 11 May 2025).
What are the key requirements of entry?
You are eligible if you are not a farm owner and have not previously owned a farm before
You are eligible if you are a previous entrant of the SFOTY category OR you are a DMOTY entrant who is no longer eligible for SFOTY
Finalists must be available to attend Nationals week (8 - 11 May 2025)
Finalists are required to attend an ASB Alumni function at Mystery Creek Fieldays Wednesday 11 June 2025
Winners will be required to move their business account to ASB
Winners must purchase a farm within 24 months of receiving the award.
Winners must become a Fonterra supplier once the farm is purchased (existing Fonterra suppliers are also eligible to enter).
Winners must participate in coaching/mentorship programmes and attend leadership academy events.
What is the entry process?
Submit your completed entry form
You will be emailed full submission instructions
Entries open 1 March - 31 March 2025
Submissions to be received by the NZDIA by 31 March
A shortlist of entrants will be announced in April
Finalists will be invited to attend a final judging interview Thursday 08 May PM
The winner will be announced at the National Awards ceremony 10 May 2025. Accommodation and two dinner tickets provided and travel depending on location.
What sort of information do entrants need to provide?
CV highlighting industry & community involvement.
Three years’ financial statements.
Detailed business plan (including farm ownership strategy, financial projections, and sustainability goals).
DairyBase financial report (if available).
Milk quality compliance records.
Referees for assessment of industry standing (e.g., vet, environmental expert, supplier contact).
Declaration & liability waiver releasing NZDIA from any loan-related liabilities.
Terms and Conditions of Prize Eligibility
ASB Bank Limited’s lending eligibility and terms and conditions will apply (including regarding Anti-Money Laundering). The rate, offer and any applicable fees may be subject to change. At the end of the fixed rate period, standard lending fees and rates will apply. An early repayment adjustment fee may apply if you break a fixed rate term. Three year’s financial statements will be required. Lending to be secured on Rural Land & livestock.
All elements of the relevant Fonterra / Farm Source prizes will be subject to applicable Fonterra / Farm Source standard terms and conditions and eligibility criteria. Some of the prizes will be subject to separate third party terms and conditions which will need to be agreed to in order for the prize to be redeemed. The Farm Source Customer Conditions will apply to all purchases of goods and services from us and any credit facilities we provide to you. Fonterra’s standard Fixed Milk Price Terms and Conditions and Rules will apply to the Fixed Milk Price offer.
First Farm Award Selection Process
Opening & Closing Dates
Entries open 1 March 2025 and close 31 March 2025.
Assessment and recognition
Finalists may be contacted by the judging panel and/or ASB Bank or Fonterra for more details. Finalists will be acknowledged as part of the National Awards programme.
Announcement
Shortlisted finalists will be invited to Nationals Week where we will announce the recipient at the National Dairy Industry Awards Dinner in May.
Access tailored help
For further information, please contact Robin Congdon at the New Zealand Dairy Industry Awards.
