Fonterra winds down India joint venture

Fonterra winds down India joint venture
Fonterra entered the joint venture in 2018. (Image: Getty)
Rebecca Howard
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...

More Primary Sector

Campbell Parker: The former banker turned DairyNZ CEO
Primary Sector

Campbell Parker: The former banker turned DairyNZ CEO

The industry organisation has 'sharpened' its strategy to three priorities.

Inventory glut hitting NZ Merino’s bottom line
Primary Sector

Inventory glut hitting NZ Merino’s bottom line

But it is confident in the next financial year.

Riley Kennedy 21 Jun 2024
High risk of bird flu says biosecurity minister
Primary Sector

High risk of bird flu says biosecurity minister

Hoggard is less concerned about the risk to dairy cattle. 

Rebecca Howard 21 Jun 2024
Leadership changes on Fonterra's management team
Primary Sector

Leadership changes on Fonterra's management team

CEO Miles Hurrell says its to help lead co-op potential consumer divestment.

Riley Kennedy 20 Jun 2024