23 Aug 2010

Fonterra sets new export record

5:34 pm on 23 August 2010

Fonterra has set a new export record, sending 2.1 million tonnes of dairy products to international markets for the second time in its nine-year history.

The dairy co-operative and New Zealand's biggest export earner says the increase in products it shipped has contributed to the country's six-month run of consecutive trade surpluses.

Fonterra passed the 2 million-tonne export milestone for the first time two seasons ago. However, its shipments over the past year have topped that by 60,000 tonnes.

The company says at the peak of the export season from November to April, it was shipping up to 500 containers a day.

Milk powder, butter and cheese were among the leading exports, pushing New Zealand's trade surplus for the year to June to $639 million.

Fonterra chief executive Andrew Ferrier says the increase has been driven by consistent demand from Asian markets, especially China, which have been leading the recovery from the recession.