Fonterra's China farms likely to be profitable in two years

Tue, 17 Nov 2015

By Fiona Rotherham Nov. 17 (BusinessDesk) - Fonterra Cooperative Group’s Chinese dairy farms could take another two years to become profitable but their losses should be reduced this financial year, says Fonterra's managing director, international farming, Alan van der Nagel. The international farming division, which currently consists of two farming hubs in China and has no plans to own any elsewhere, posted a loss of $44 million in the 2015 financial year on revenue of $141 million. That was because of set up costs for new farms, livest...

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