December 9, 2014 / 11:56 PM / 5 years ago

NZ's Fonterra sees slower China dairy demand growth

WELLINGTON, Dec 10 (Reuters) - New Zealand cooperative Fonterra, the world’s largest dairy exporter, on Wednesday said it expects growth in Chinese dairy consumption to be slower than anticipated through 2020 as the country’s economy slowed.

The company, which controls nearly one-third of the global dairy export market, expects consumption growth in China to increase 4 percent through 2020, according to a presentation dated November, down from 7 percent stated earlier this year.

Slower consumption in China reflected “factors including a slow-down in China’s economic growth which in turn affects the rate of urban migration,” Fonterra said in a statement to Reuters on Wednesday.

Reporting by Naomi Tajitsu; Editing by Stephen Coates

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