New Zealand dairy giant Fonterra stated that due to the economic growth in Asia, it is expected that the global demand for dairy products will increase by more than 100 million tons (100 billion liters) by 2020. This was revealed by Fonterra President TheoSpierings this week at the Deutsche Bank meeting in Sydney. He said that demand for dairy products will increase in China, Southeast Asia, the Middle East, India, and Africa and Latin America, and that in these areas, milk will be in short supply.
Fonterra stated that it will increase milk production in New Zealand in the future, while in some overseas markets, including China, South America and Southeast Asia, targeted investments will be made to gain more market share. Fonterra Cooperative, owned by dairy farmers, is the largest dairy processor in the world and the largest dairy exporter, accounting for about 30% of the global export market.
According to reports, Fonterra Group's 2011 after-tax profit was SGD 771 million, an increase of 13% compared to the same period last year; and its total revenue was S$19.9 billion, an increase of 19% year-on-year. Deutsche Bank analysts said Fonterra expects to announce its global strategy in the coming weeks.
Fonterra stated that it will increase milk production in New Zealand in the future, while in some overseas markets, including China, South America and Southeast Asia, targeted investments will be made to gain more market share. Fonterra Cooperative, owned by dairy farmers, is the largest dairy processor in the world and the largest dairy exporter, accounting for about 30% of the global export market.
According to reports, Fonterra Group's 2011 after-tax profit was SGD 771 million, an increase of 13% compared to the same period last year; and its total revenue was S$19.9 billion, an increase of 19% year-on-year. Deutsche Bank analysts said Fonterra expects to announce its global strategy in the coming weeks.
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