Botulism Scare? New Zealand Yawns

New Zealand's lucrative dairy export business was threatened by fears of contaminated milk products sold in China. Markets don't seem worried.

One would be forgiven for thinking that China'srecent decision to ban imports of whey proteins and milk powders produced by Fonterra Cooperative Group -- after discoveries of bacteria associated with botulism -- would have a big impact on New Zealand's economy. After all, Fonterra is one of New Zealand's biggest companies, responsible for sourcing and distributing almost all domestic dairy products in the country. Those dairy products account for about a quarter of New Zealand's exports, which in turn make up about a third of the country's gross domestic product.

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