Fonterra winds down India joint venture

Fonterra entered the joint venture in 2018. (Image: Getty)

Fri, 11 Mar 2022

Dairy co-operative Fonterra and India’s Future Consumer agreed to wind down a small joint venture in India after significant challenges caused by covid-19.The co-op entered the joint venture as a “capital-light way to test the Indian market, which has a large dairy consuming population but restrictive trade access for New Zealand dairy”, said Judith Swales, Fonterra chief executive for Asia-Pacific. The co-op invested just under $3 million per year over four years. Total turnover in FY21 was $2.6m.However, the last few ye...

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