NZ Farm Worker Pay Growth Slows After Post-Pandemic Boom
According to the latest Federated Farmers-Rabobank Farm Remuneration Report, released today, farm worker pay growth has levelled off after a post-Covid period of rapid growth.
Rabobank’s Global Dairy Top 20 puts the Chinese dairy giant in fifth place, ahead of Fonterra but below companies like Lactalis and Nestlé.
Yili retains its spot for the ninth year in a row.
A spokesperson for Yili says the report highlights intense competition across the industry, with combined turnover of the Global Dairy Top 20 companies jumping by 9.3% in US dollar terms, following a 0.1% decline in 2021.
“Due to its acquisition of Ausnutria Dairy and strong domestic sales growth, Yili has become Asia’s first dairy producer to exceed RMB 100 billion (USD 14.85 billion) in turnover,’’ the spokesperson says.
In 2021, Yili achieved 8% growth in overseas revenue, with its products covering over 60 countries and regions across five continents.
In New Zealand, Yili has upgraded production and doubled the capacity of Westland Milk Products’ Hokitika butter plant.
