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Top dairy exporter Fonterra struggling amid global dairy glut

Prices for whole milk powder have dropped by half over the past 3 years as purchases by China dwindle

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The Whareroa factory, churning out enough milk powder, cheese and cream to fill more than three Olympic-sized swimming pools a week, has come to symbolise Fonterra's struggle to climb the value chain.

Washington

IN THE shadow of a snow-dusted volcano on New Zealand's North Island, a sprawling expanse of stainless steel vats, chimneys and giant warehouses stands as a totem of the tiny nation's dominance in the global dairy trade.

The Whareroa factory was until recently the

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