Microsoft PowerPoint - 1.45pm C Hartwell Presentation 05.05.2011.pdf

Chinese middle-class helps Fonterra set new export
record
• Wednesday 27th April 2011
The world's biggest dairy exporter, Fonterra, says demand from aspiring middleclass
consumers in Asia - particularly China - has underpinned recorded the
cooperative's record level of monthly exports: 229,000 tonnes in March.
"The real driver for the export record is the ongoing strong demand from China,
South East Asia and the Middle East," said the company's managing director of
trade and operations, Gary Romano.
The record shipments were part of continued growth in global demand for high
quality dairy products from New Zealand.
"Our supply chain team were effectively closing the door on an export container
every 2.6 minutes," Romano said. "That's equivalent to 560 containers a day".
"We expect the record month will inject around $1.2 billion into the New Zealand
economy," he said.
The cooperative has indicated that a surplus of around $8/kg milksolids is likely to
result in an average of $900,000 being available for each farmer: its current
forecast range for the 2011 season is $7.90-$8.00kg milksolids (before retentions)
to farmers, unchanged from the levels announced in late February.
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