Fonterra's global focus has shifted since the pandemic began, anticipating much of its future growth will stem from investment in high value growth in biotech products.
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Fonterra expects biotech products to drive future growth
Photo: 123rf

In response to the changing global market, the dairy co-operative has recently established a global markets business, headed up by long serving executive Judith Swales.

Her brief covers global consumer products, ingredients and food services businesses everywhere but China.

Swales said global dairy production was levelling off, given land constraints, climate change considerations and plateauing consumer demand for dairy products, such as milk, butter, cheese and yogurt.

However, she said Covid-19 had made families much more focused on healthy food products, which was the driving force behind the creation of a new range of advanced ingredient products, namely proteins and lepids.

“We can command more value from our probiotics . . . and actually command maximum dollars which obviously goes back to our farmers,” Swales said, adding there was huge potential for global growth.

“The reason we formed global markets was to allow us to really be able to respond much quicker, and to be much more decisive about where we want to play, how we’re going to grow, and how we’re going to win.”

The delay in details being issued on the proposed dairy reduction scheme is “playing with the futures” of farm families, according to the Irish Creamery Milk Suppliers’ Association (ICMSA).

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