August 24, 2010
 

Fonterra strikes new export record in June

New Zealand dairy giant Fonterra has set a new export record, sending more than two million tonnes of product to international markets for the first time in its nine-year history.

The exports were 60,000 tonnes higher than those achieved in the 2008-09 season and were a factor in New Zealand's six-month run of consecutive trade surpluses, Fonterra Chief Executive Andrew Ferrier said on Monday (Aug 23).

Milk powder, butter and cheese all ranked among the leading exports, which saw the June trade surplus reach NZ$276 million (US$189 million) and the year-to-June surplus, NZ$639 million (US$449 million).

Ferrier said consistent demand across the year, particularly from markets in Asia, helped Fonterra to cross the two-million-tonne milestone.