Fonterra is New Zealand’s biggest company with annual revenue last year nudging $20 billion. It generates 25 per cent of New Zealand’s export earnings.
It is the world’s biggest dairy exporter, sending 95 per cent of the production of its 10,500 New Zealand farmer suppliers overseas.
The New Zealand dairy industry is worth $14b a year to the New Zealand export economy.
China, which has closed its borders to New Zealand milk powders in response to the botulism bacteria scare, is Fonterra’s biggest customer.
The Asian giant is particularly sensitive to milk powder.
Source: Stuff