Fonterra is pumping another $20 million into its Te Rapa site to produce more export cream cheese and mini-dish butter to meet rising demand.

As the New Zealand Agricultural Fieldays gets underway this week the chief executive of the organisation running it says there is optimism in the dairy sector.

Meat company Affco has shipped 33,000 consumer packs of premium beef to China -- its first foray into the lucrative value-added market.

Canterbury milk processor Synlait has followed Fonterra in announcing an opening milk price of $6.50/kgMS for the new season.

When state farmer Landcorp took over the dilapidated ex-Crafar farms in the North Island four years ago, it had little idea of the challenges lying ahead.

Markets for New Zealand lamb have performed strongly for the last six months, says Affco general manager Andy Leonard.

European dairy co-op Arla is putting innovation at the centre of its growth plans for the next decade.

Irish dairy co-op Ornua says revenue grew 9% last year.

State farmer Landcorp has handed over the running of 16 North Island farms to Chinese owners Shanghai Pengxin following a four-year management joint venture.

Fonterra's revenue of $13.9 billion for the first nine months of 2016-17 is up 8% on the same period last year as a result of higher milk prices.