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

 


Fonterra Now On The Ground In India


Fonterra is now formally "on the ground" in India's NZ$50 billion dairy market.

A joint venture between Fonterra's consumer products division NEW ZEALAND MILK and Britannia Industries Ltd - Britannia New Zealand Foods Ltd - has received the necessary regulatory approval and commenced operations today.

The new company will be based in Bangalore and will market a wide range of dairy products, including, butter, cheese, dairy whiteners, ghee and liquid milks.

The Britannia brand is well known in India. Britannia's major business is in bakery. The company has a strong national distribution network and has in recent years moved into the dairy sector.

NEW ZEALAND MILK managing director David Pilkington said today while domestic operators supplied the bulk of India's huge NZ$50 billion milk market through an informal market, there was a NZ$5.8 billion 'formal" market which the new company would target.

He said that sector of the market was growing at around nine percent annually and NEW ZEALAND MILK saw exciting possibilities for sales growth. Britannia Industries Ltd Chairman Nusli Wadia said: "This new company will have full access to Fonterra's considerable R&D strengths, which will help in further upgrading product quality and reducing product costs. A number of new product innovations are also planned. The combined strengths of Britannia and Fonterra will constitute a formidable force in meeting consumer needs and developing our presence in the dairy segment."

END

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news