Fonterra CEO says losing Chinese market share to European competitors is a concern for NZ

Dairy giant Fonterra chief executive Theo Spierings addressing the China Business Summit in Auckland today:

• Europe is gaining share and if Europe gains share New Zealand is losing share
• said Fonterra was aiming to grow its business in China from around $5 billion in 2014 to $10 billion over the next five years

More at the New Zealand Herald, here

h/t to Bloomberg

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Concerns about NZ dairy producers losing market share will translate into a negative for the NZD