Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fonterra Initiative In India


Friday 26 October 2001 For Immediate Release


Fonterra Initiative In India

NEW ZEALAND MILK, the consumer products division of Fonterra Co-operative Group Ltd, is to enter the Indian dairy market by establishing a joint venture with Britannia Industries Ltd, which owns one of India’s strongest food brands. The deal is subject to regulatory approval.

Britannia, based in Bangalore and with annual turnover of NZ$600 million, is principally in the bakery business and has a strong national distribution network. In recent years it has expanded into the dairy sector as part of its growth strategy and it has identified NEW ZEALAND MILK as having the expertise and international marketing experience needed to expand its dairy business rapidly.

Fonterra CEO Craig Norgate said the alliance would provide Fonterra with a strategic point of entry into a market of huge potential within the world’s fourth largest economy.

“India’s total dairy market, at NZ$50 billion, is one of the world’s biggest. Steady growth and liberalisation of India’s economy has opened up attractive opportunities for investment in the country’s dairy industry,” he said.

NEW ZEALAND MILK Managing Director David Pilkington said domestic operators, via an informal market, supply the largest sector of the Indian market.

“The NZ$8.5 billion ‘formal’ market, which is growing at nine percent annually, is the target for Britannia and NEW ZEALAND MILK,” Mr Pilkington said.

Britannia currently markets processed cheese, butter, dairy whiteners and ghee and has recently expanded into liquid milks, which it is now selling in Delhi and Calcutta. Mr Pilkington said the joint venture would further expand this product range, having identified strong growth potential in the milks and foodservice categories.

END

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 0.5% In June Quarter: Services Lead GDP Growth

“Service industries, which represent about two-thirds of the economy, were the main contributor to GDP growth in the quarter, rising 0.7 percent off the back of a subdued result in the March 2019 quarter.” More>>

ALSO:

Pickers: Letter To Immigration Minister From Early Harvesting Growers

A group of horticultural growers are frustrated by many months of inaction by the Minister who has failed to announce additional immigrant workers from overseas will be allowed into New Zealand to assist with harvesting early stage crops such as asparagus and strawberries. More>>

ALSO:

Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>

ALSO:

Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>

ALSO: