Trump tariffs
OPINION: Former politicians seem incapable of staying away from the limelight after they retire.
New Zealand's newest dairy plant, making infant formula for the Chinese market, was opened yesterday.
The $220 million Yashili plant at Pokeno, north Waikato, will make 52,000 tonnes of formula. The product will be sent to China in cans and in 25kg bags.
Yashili is majority owned by China's largest dairy player Mengnui Dairy; European Dairy players Arla Foods and Danone are also shareholders.
Mengniu chief executive and chairman of Yashili International Holdings Ltd Sun Yiping attended the opening. Prime Minister John Key was the chief guest.
Yashili New Zealand begins a new chapter of Chinese offshore infrastructure development, says Yiping.
"With ever-increasing levels of urbanisation, and an increase in consumer demand for dairy products, China is the fastest growing dairy market in the world. The Mengniu-Yashili plant is creating an elite team based in New Zealand to embody a blending of cultures with an international vision and integrated ability," she says.
With food safety the utmost priority, the production plant was designed to operate under strict quality controls and testing will be conducted by AsureQuality.
ANZ says the latest cut to its floating rates will be welcome news to many of its business and agri customers still feeling the effects of high inflation and interest rates.
Fonterra has introduced a new UHT bakery cream for its booming foodservice business in China.
Auckland manufacturer and distributor of colostrum-based supplements, New Image International, celebrated its 40th anniversary this month.
LIC farmers are set to benefit from a genetics collaboration with US company, Sexing Technologies (ST).
"It was awesome to see not only where our milk goes but to find out more about the range of ways it's used."
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