The New Zealand cooperative overtook Lactalis and FrieslandCampina to become the world’s number three after registering sales of $12.1bn in 2010.
High commodity prices have meant that companies with a lot of direct commodity exposure have profited more than those who are mainly active in the consumer market.
Rabobank expects to see more consolidation in the European market, with Lactalis (ranked fourth), FreislandCampina (ranked fifth) and Arla Foods (ranked sixth) battling for market dominance. If Lactalis manages to complete its acquisition of Parmalat, it would push the French company into the number two spot.
(Ranked by turnover) Last year’s ranking in brackets
Source: Rabobank
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