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.
A Chinese business leader says Chinese investors are unfairly viewed as potential security risks in New Zealand.
In the first of two articles focusing on electrification in New Zealand, Leo Argent talks with Mike Casey, operator of the 100% electric-operated Electric Cherries orchard and founder of advocacy group Rewiring Aotearoa.
A Foundation for Arable Research initiative which took a closer look at the efficiency of a key piece of machinery for arable farmers - their combine harvesters - has been recognised at the Primary Industry NZ Awards.
Prime Minister Christopher Luxon has reiterated New Zealand’s ‘China And’ policy, adding that it wasn’t about choosing one market over another but creating more options for exporters.
A long running trade dispute between New Zealand and Canada over dairy access has been resolved.
New Zealand Police is urging rural property owners to remain vigilant and ensure their property is secure.
OPINION: Years of floods and low food prices have driven a dairy farm in England's northeast to stop milking its…
OPINION: An animal activist organisation is calling for an investigation into the use of dairy cows in sexuallly explicit content…