Economy, Domestic Economy

NZ Dairy Co. Eyes Iran Market

NZ Dairy Co. Eyes Iran MarketNZ Dairy Co. Eyes Iran Market

The CEO of New Zealand’s giant multinational dairy cooperative Fonterra says Iran has “huge potential” as a destination for the company’s dairy products. “Iran is a massive market for fat, so for butter and butter oil, so that’s the ingoing position, but you will see demand coming out of there for milk powders as well,” Theo Spierings told Television New Zealand on Saturday adding that “Iran is definitely part of the future plans.” Accounting for approximately 30% of the world’s dairy exports, Fonterra is the world’s largest dairy exporter and New Zealand’s largest company. Earlier, New Zealand’s Foreign Minister Murray McCully said the nuclear deal reached between Iran and world powers will open the door for further progress to be made in the relationship between Tehran and Wellington.