Fonterra Exports Hit 2.1 Million Mt High
Fonterra has set a new export record, sending 2.1 million metric tonnes of product to international markets for the first time in its nine-year history.
The export tonnages were 60,000 MT higher than those achieved in 2008/09 and were a factor in New Zealand’s six month run of consecutive trade surpluses. Milk powder, butter and cheese all ranked among the leading exports which saw the June trade surplus hit $276 million and the year-to-June surplus reach $639 million.
Fonterra CEO Andrew Ferrier, said consistent demand across the year, particularly from markets in Asia, helped Fonterra to cross the two million tonne milestone and end the financial year with tight inventories.
“The global recovery has been led by Asia, with demand from China particularly good. Every tonne that’s left New Zealand has helped turn the tide with the balance of payment deficit. It’s a good feeling to be helping hold the worst of the global recession’s impacts on New Zealand’s economy at bay one container at a time.”
The record represents 140,000 TEU (twenty foot equivalent containers) shipped from New Zealand ports from August 2009 to July 2010. On average, Fonterra shipped 380 TEUs a day, with highs of 500 TEUs a day between the peak export months of November and Ail. Based on Kiwirail’s average train length, that translates to seven trains a day dedicated to moving Fonterra products to the ports.
“Dairying provides around a quarter of New Zealand’s exports and as economies like China and other parts of Asia move to higher living standards, the outlook remains very positive,” said Mr Ferrier.
“While we continue to see price volatility, dairy remains the standout performer, not only in primary sector exports, but also in overall exports and our consistent performance is not only good for farmers but for the economy as a whole.”
About Fonterra
Fonterra is a global leader in dairy nutrition – the preferred supplier of dairy ingredients to many of the world’s leading food companies. Fonterra is also a market leader with our own consumer dairy brands in Australia/New Zealand, Asia/Africa, Middle East and Latin America.
The farmer-owned New Zealand co-operative is the largest processor of milk in the world, producing more than two million tonnes of dairy ingredients, value added dairy ingredients, specialty ingredients and consumer products every year. Drawing on generations of dairy expertise, Fonterra is one of the largest investors in dairy based research and innovation in the world. Our 16,000 staff work across the dairy spectrum from advising farmers on sustainable farming and milk production, to ensuring we live up to exacting quality standards and delivering every day on our customer promise in more than 100 markets around the world.
