Fonterra’s bullish outlook on UK market

Fonterra's Richard Allen believes it will export 10,000 tonnes of dairy to the UK this season. (Image: Fonterra)

Thu, 07 Mar 2024

It is not often that a new market opens up in the dairy sector, Fonterra’s Atlantic president Richard Allen says, especially in one of the largest economies in the world. But that’s what happened with the United Kingdom.Last year, the NZ/UK free trade agreement (FTA) came into force, coinciding with the start of the new dairy season in June, after three years of negotiations. Within the FTA, 60% of NZ’s dairy can enter the UK duty-free, immediately increasing to 100% within seven years.Tariffs are also being eliminated over fi...

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