New Zealand Sees More Cheese as Europe Ramps Up Dairy Production
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New Zealand’s Fonterra Cooperative Group Ltd., the world’s biggest dairy exporter, isn’t troubled by an expected surge in European milk production as it will be used to make cheese, and won’t meet China’s taste for milk powders.
When the European Union removes restrictions April 1 that have limited dairy expansion on the continent for three decades, production in the greenbelt of Europe will grow 4 percent to 5 percent a year, according to Fonterra Chief Executive Officer Theo Spierings.