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23 Jan 2021 21:06
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  •   Home > News > Rural

    Dairy giant Fonterra's farm sales in China,don't mean it's pulling out of the market

    Dairy giant Fonterra's farm sales in China,don't mean it's pulling out of the market


    Fonterra
    Fonterra
    Inner Mongolia Natural Dairy has purchased two farming hubs for just over 500 million, and another farm's sold for 42 million.

    Fonterra CEO Miles Hurrell says it will let the co-op prioritise areas where they have a competitive advantage.

    China Studies Centre director Antje Fiedler says Fonterra is heavily involved in product development throughout China and South East Asia.

    She says one example is working with chefs to create cake products that specifically use New Zealand butter.

    © 2021 Newstalk ZB, NZCity


     Other Rural News
     16 Dec: Some good news for farmers, in the last Global Dairy Trade auction before Christmas
     05 Dec: Fonterra farmers are grateful for an extra 20 thousand dollars coming their way when milk markets are so precarious
     04 Dec: Fonterra farmers will share an extra 300 million dollars from a lifted milk price...thanks to strong demand from China
     04 Dec: Fonterra is waiting on regulators to clear the sale of its Chinese farms
     04 Dec: A recovering China is lifting hopes that Fonterra will continue to piggy-back on growing milk demand
     04 Nov: Dairy farmers are looking ahead - both for the environment, and their farms
     21 Oct: A challenging year ahead for beef and sheep farmers
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