New Zealand's Fonterra wants to be Russia's partner in dairy sector

Fonterra, a New Zealand company ranking No.4 by output among dairy companies globally, intends to become one of key partners for Russia in upgrading the dairy sector, according to Theo Springs, a member of the company's Board of Directors, who addressed a meeting held with representatives of the Russian Ministry of Agriculture.

New Zealand's Fonterra wants to be Russia's partner in dairy sector

Fonterra, a New Zealand company ranking No.4 by output among dairy companies globally, intends to become one of key partners for Russia in upgrading the dairy sector, according to Theo Springs, a member of the company's Board of Directors, who addressed a meeting held with representatives of the Russian Ministry of Agriculture.

The parties discussed cooperation in agriculture. Despite reduced sales turnover between the countries in 2016, there are prerequisites for boosting it in near term.

"Our company is interested in investing into Russia's "dairy cell" both in physical terms and investments into agricultural technology and human capital", Theo Springs, the CEO of Fonterra, noted.

Previously, Head of the Ministry of Agriculture Alexander Tkachov told at a conference of the National Union of Milk Manufacturers that Russia suffers a deficit of milk equal to 8 million tonnes while 30 million tonnes are currently produced. According to him, "closing" this issue will take 5 to 7 years.