Scare Or No Scare, Customers Have Little Choice But Fonterra
However much China and other big customers strive to rely less on Fonterra after a global food contamination scare this month – now downscaled to a ‘false alarm’ – the New Zealand firm’s grip on the global dairy trade is unlikely to be loosened. China, New Zealand’s biggest customer, is particularly exposed. Annually, it spends around $1 billion on imported milk powder, used in infant formula, sports drinks and confectionary, with some 90 percent of that coming from New Zealand.
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