New Zealand's dairy sector has little to fear from an
estimated 9 billion additional litres of milk expected to
flood the global market once European dairy quotas are fully
lifted in 2015, Rabobank senior global dairy analyst Kevin
Bellamy believes.
An estimated 9.5 million litres of milk has been disposed of
as treacherous road conditions affected Fonterra's collection
throughout New Zealand over the past two days.
Fonterra Brands New Zealand has responded to pressure and
confirmed it will reduce butter and cheese prices next month
in line with international price decreases, after separate
reports put the dairy giant's pricing under close scrutiny.
The high-flying tourism industry has overtaken the dairy
industry to become New Zealand's top export earner, with
tourism insiders remaining cautiously optimistic the trend
will continue.
Misunderstood by many in the West, the Middle East is
proving a lucrative and growing dairy market for Fonterra.
Agribusiness editor Neal Wallace reports that brands such as
Anchor, Anlene and Anmum are leading that growth.
