Asian Demand Boosts Fonterra Exports

Fonterra exported about 2.1 million tons of dairy products in 2010, an increase of 60,000t on 2008-09.

The company, which processes about 92% of New Zealand’s milk, shipped the products during the year ended 31 July.

Fonterra chief executive Andrew Ferrier said the increase in exports has been led by Asia, particularly China.

The company made a trade surplus of $276m in June and $639m for the year to June in products such as milk powder, butter and cheese.