Wednesday, 07 July 2021 13:55

Fonterra China farms sold

Written by Staff Reporters

font size decrease font size increase font size
Print
Email

Fonterra chief executive Miles Hurrell.

Fonterra will pocket $88 million following the sale of its two joint venture farms in China.

The farms in Shandong province were sold to Singapore-based AustAsia Investment Holdings for US$115.5 million.

Fonterra owns the farms with a joint venture partner and had a 51% stake.

Fonterra hief executive Miles Hurrell says the sale is another important milestone for the co-operative and aligns to its strategy of prioritising New Zealand milk.

"The sale of the JV farms allows us to focus even more on our farmer owners' milk and follows the sale of our two wholly owned China farming hubs earlier this year.

Fonterrs sold its two wholly owned China farming hubs in Shanxi and Hebei provinces to Inner Mongolia Youran Dairy in April for $552 million."

Published in Agribusiness

Featured

High commodity prices, farmer optimism bode well for event

The 2025 South Island Agricultural Field Days (SIAFD) chairman, Rangiora farmer Andrew Stewart, is predicting a successful event on the back of good news coming out of the farming sector and with it a greater level of optimism among farmers.

Accident triggers traffic alert in barns, sheds

WorkSafe New Zealand is calling on farmers to consider how vehicles move inside their barns and sheds, following a sentencing for a death at one of South Canterbury’s biggest agribusinesses.

Plantain 'still a winner' in nitrogen loss battle

Now is not the time to stop incorporating plantain into dairy pasture systems to reduce nitrogen (N) loss, says Agricom Australasia brand manager Mark Brown.

People expos set to return

Building on the success of last year's events, the opportunity to attend People Expos is back for 2025, offering farmers the chance to be inspired and gain more tips and insights for their toolkits to support their people on farm.

SustaiN lands NZ registration

Ballance Agri-Nutrients fertiliser SustaiN – which contains a urease inhibitor that reduces the amount of ammonia released to the air – has now been registered by the Ministry of Primary Industries (MPI). It is the first fertiliser in New Zealand to achieve this status.

Precision N application test costs 'outweigh returns'

Precision application of nitrogen can improve yields, but the costs of testing currently outweigh improved returns, according to new research from Plant and Food Research, MPI and Ravensdown.