Fonterra posts 30% rise in earnings on back of China demand By Wang Zhuoqiong | chinadaily.com.cn | Updated: 2021-05-30 15:31 Visitors check out Fonterra products during the third China International Import Expo in Shanghai in November. [Photo provided to China Daily] Chinese market has led the progress for world leading dairy producer Fonterra as the country's economy continues to recover strongly, recording a 30 percent rise in earnings before interest and tax year-on-year, said Fonterra's top executive. Fonterra Co-operative Group CEO Miles Hurrell said in the company's fiscal third quarter report that "prompted by COVID-19, people are seeking the health benefits of milk and customers are wanting to secure their supply of New Zealand dairy products and ingredients. Growth in global milk supply seems muted and the global supply of whole milk powder is looking constrained."