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21 Oct 2021 15:52
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  •   Home > News > Rural

    Farmers are relieved Fonterra's selling part, or eventually all, of its share in Beingmate

    Farmers are relieved Fonterra's selling part, or eventually all, of its share in Beingmate


    Fonterra
    Fonterra
    The dairy giant owns nearly 19 percent of the Chinese infant formula and child food company.

    The Country host, Rowena Duncum, says Fonterra spent $755-million on Beingmate, hoping to gain access to the Chinese market.

    However, she says and Phil Gifford] share prices have plummeted, so farmers have been asking Fonterra to sell.

    Duncum says farmers call Beingmate the dog with fleas.

    She thinks Fonterra will lose more money but it's a case of cutting their losses.

    © 2021 Newstalk ZB, NZCity

     Other Rural News
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     12 Sep: Farmers are excited at the prospect of converting to growing oats, but it will come down to what the yield per tonne price is
     08 Sep: Some good news for dairy farmers
     05 Jul: Changes to how Fonterra calculates the price of milk
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