New Zealand dairy giant Fonterra is entering the Puerto Rican market with the launch of products under its Anchor and Mainland brands in the country.
Commenting on the expansion, Fonterra director of consumer export, Alexander Turnbull, said: “Both the Anchor and Mainland brands are already successful in more than 20 countries across the Caribbean, and it’s exciting that we are able to continue rolling out our Fonterra branded dairy products into more countries.”
Announcing the move, Fonterra highlighted the potential of the Puerto Rican market. With a population of 3.7m, the country has the highest dairy per capita consumption in the Caribbean, with demand currently sitting at approximately 443,000 MT, the New Zealand-based cooperative noted. Fonterra said that demand is continuing to rise due to an “increased focus” from consumers on the “benefits of high quality dairy nutrition”.
“Our research has shown that demand in the country for high quality butter, cream and cheese has grown by more than 10% over the past five years. This coupled with the strong reputation of our brands across the Caribbean means the time is now right to enter the market,” said Turnbull.