Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
In addition, no Fonterra products sent to these countries used the affected whey protein concentrate as an ingredient.
Fonterra is working closely with the authorities of the Customs Union of Russia, Belarus and Kazakhstan to reassure them of the safety of its products.
This follows last week's precautionary recall in which Fonterra advised eight of its customers of a potential quality issue involving three batches of a particular type of whey protein concentrate (WPC80) produced at a single New Zealand manufacturing site in May 2012.
Miles Hurrell, general manager for Fonterra in the Middle East, Africa and the CIS, said, "Fonterra primarily supplies butter and cheese to the Russian market and these are not made using whey protein concentrate."
Last week, both the New Zealand Government and Fonterra confirmed that New Zealand dairy exports such as whole and skim milk powders, as well as butter and cheese are safe.
"We are continuing to work closely with New Zealand's Ministry of Primary Industries to provide reassurances to customers, consumers and trade partners of the safety of New Zealand dairy products," said Hurrell.
