News | Rural
9 Jul 2020 13:15
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  •   Home > News > Rural

    Farmers are relieved Fonterra's selling part, or eventually all, of its share in Beingmate

    Farmers are relieved Fonterra's selling part, or eventually all, of its share in Beingmate

    The dairy giant owns nearly 19 percent of the Chinese infant formula and child food company.

    The Country host, Rowena Duncum, says Fonterra spent $755-million on Beingmate, hoping to gain access to the Chinese market.

    However, she says and Phil Gifford] share prices have plummeted, so farmers have been asking Fonterra to sell.

    Duncum says farmers call Beingmate the dog with fleas.

    She thinks Fonterra will lose more money but it's a case of cutting their losses.

    © 2020 Newstalk ZB, NZCity

     Other Rural News
     26 Jun: Manawatu dairy farmer Andrew Hoggard is the new president of Federated Farmers
     26 Jun: Former Zespri chairman Peter McBride will lead the boardroom of the country's largest company
     26 Jun: Fonterra is replacing its retiring chairman John Monaghan with Tauranga dairy farmer and kiwifruit grower Peter McBride
     24 Jun: The global demand for sheep milk is growing, and Kiwi farmers are responding
     23 Jun: Fonterra farmers who produce sustainable, high quality milk will soon be eligible for a new payment of up to 10 cents per kg of milksolids
     15 Jun: Dairy farmers aren't overly optimistic that a wide ranging milk payout will be narrowed
     03 Jun: Dairy farmers have agreed to again bankroll their industry organisation
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