New export record for Fonterra

New export record for Fonterra

Business
Blue skies: Fonterra announced it exported a whopping 300,000 tonnes of product to its global markets last month.

Blue skies: Fonterra announced it exported a whopping 300,000 tonnes of product to its global markets last month.

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Dairy giant Fonterra hit a new export record last month.

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FONTERRA has announced it hit a new monthly export record after it shifted 300,000 tonnes to its global customers in December.

December’s volume was approximately 10 per cent higher than Fonterra’s previous record month in December 2014.

Fonterra Managing Director for Global Ingredients Kelvin Wickham said the new record reflected the ongoing successful performance of Fonterra’s direct-to-customer ingredients, consumer and foodservice sales.

“We have seen unprecedented global volatility due to geopolitical events over the past year. The dairy market has been a tough environment globally, so we are pleased to achieve record export volumes despite the challenges,” Mr Wickham said.

He said the new benchmark would be difficult to surpass as reduced milk volumes began to impact on the Co-operative’s production levels.

Fonterra is forecasting a year-on-year reduction of milk volumes by at least 6 per cent this season as farmers responded to the low milk price environment and dry conditions impacted parts of New Zealand.

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