Fonterra to end China farms, Beingmate links this year
Fonterra hopes to end its involvement in farms and the controversial Beingmate businesses in China by the end of this year.
Fonterra says its partnership with Beingmate has enabled the Anmum range to expand from 60 to 184 cities.
The product is now in at least 10,000 stores in China, on all the major e-commerce platforms and is one of the top performers in Beingmate’s range.
The co-op says the 80,000 retail stores touted at the launch of the joint venture was a reference to Beingmate’s footprint in China.
“However, as Anmum is a premium brand, Beingmate has decided to focus on 10,000 stores to reach the right target consumers.”
Fonterra says claims about uncompetitive pricing structure are “false and misleading”.
“As the exclusive general distributor, Beingmate sets the recommended retail price for Anmum; RRP is based on the competitive market dynamic.”
Fonterra also refutes claims that it hasn’t done enough to market Anmum in China.
“This is false and misleading because under the terms of our distribution agreement with Beingmate they are responsible for Anmum brand building activities.”
Beingmate, facing financial issues, has seen its share price dropped to 5.31 RMB (NZ$1.14) this month.
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
OPINION: We have good friends from way back who had lived in one of our major cities for many years.
Listed Canterbury milk processor Synlait’s shares have been placed in a trading halt.
OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.
A step-by-step guide helping farmers through the process of creating a Freshwater Farm Plan (FWFP) has been launched by FarmIQ.
OPINION: European farmers are going to extreme lengths to have their message heard.
OPINION: The hustle and bustle of one of Bangkok's most popular fast food outlets may feel a world away from…