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29 Mar 2024 10:35
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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.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
     21 Mar: Dairy farmers will be breathing a sigh of relief with Fonterra's latest results
     20 Mar: There's bad news for dairy farmers on the eve of Fonterra's half year results -- with dairy prices dropping a further 2.8 percent at the latest Global Dairy Trade auction this morning
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
     07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt
     21 Feb: Dairy prices are up 0.5 percent at the latest Global Dairy Trade auction overnight
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