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

Zhiqiang Li takes helm as acting CEO of Westland Milk Products
Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products

Zhiqiang Li has taken the helm as acting chief executive of Westland Milk Products, effective today.The move follows the resignation of former CEO Richard Wyeth.Li will continue as executive director of Yili Group in Australia and New Zealand.Li said Wyeth joined the company four...

Coal and gold added to critical minerals list
Finance

Coal and gold added to critical minerals list

Banks and insurance companies threatened with regulatory retaliation if they block mining.

Cannabis rule change having impact
Primary Sector

Cannabis rule change having impact

Regulatory changes in NZ and Germany have made NZ products more available worldwide.

Chinese New Year crucial for NZ markets
Primary Sector

Chinese New Year crucial for NZ markets

The festive period is largely out of season for NZ's kiwifruit supply.