Wednesday, 10 May 2023 11:55

Wrong again!

Written by The Hound

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OPINION: Remember when the once-crumbling Westland Milk Products company was bought out by Chinese company Yili in 2019 and the howls of outrage and derision from current Minister of Agriculture and West Coast MP Damien O'Connor describing it as a 'sad day' for the West Coast?

However, some four years down the track, Westland Milk - under Yili's ownership - has gone from strength to strength.

Not only is the company paying its farmers a 10c premium above Fonterra's payout, but last year it also surpassed $1 billion in annual revenue for the first time - making a profit of $39 million, with West Coast farmers receiving a record $9.40/kgMS for their milk in 2022.

Now the company is going to invest $70 million to expand its manufacturing of dairy protein lactoferrin.

The Hound reckons it looks like O'Connor has added to his long list of wrong calls when it comes to the NZ ag sector!

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