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.
BNZ says it is backing aspiring dairy farmers through an innovative new initiative that helps make the first step to farm ownership or sharemilking a little easier.
LIC chief executive David Chin says meeting the revised methane reduction targets will rely on practical science, smart technology, and genuine collaboration across the sector.
Lincoln University Dairy Farm will be tweaking some management practices after an animal welfare complaint laid in mid-August, despite the Ministry for Primary Industries (MPI) investigation into the complaint finding no cause for action.
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Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
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