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NZ dairy giant Fonterra breaks export record

Fonterra says it has broken its own record for the highest export month, helping to boost New Zealand's economy by $1.3 billion last month, according to the NZ Herald.

The report quoted the dairy giant saying it loaded 246,000 tonnes of dairy products onto ships during December, overtaking the previous record of 229,000 tonnes of product recorded last March.

Fonterra's exports now account for more than a quarter all New Zealand exports.

Fonterra's managing director of trade and operations Gary Romano said a good autumn and mild winter had created optimal grass growing conditions ahead of the 2011/12 dairy season.

"This helped create a wave of milk up about 10 per cent on a daily basis during the peak flow in late September through to November."

Demand for high quality dairy products is still looking strong with South East Asia, China, the Middle East and North Africa driving the growth in exports.

"Dairy is becoming increasingly important in these markets as people grow wealthier and want access to more nutritious foods," Romano said. Source: NZ Herald