Fonterra to end China farms, Beingmate links this year
Fonterra hopes to end its involvement in farms and the controversial Beingmate businesses in China by the end of this year.
Fonterra says its partnership with Beingmate has enabled the Anmum range to expand from 60 to 184 cities.
The product is now in at least 10,000 stores in China, on all the major e-commerce platforms and is one of the top performers in Beingmate’s range.
The co-op says the 80,000 retail stores touted at the launch of the joint venture was a reference to Beingmate’s footprint in China.
“However, as Anmum is a premium brand, Beingmate has decided to focus on 10,000 stores to reach the right target consumers.”
Fonterra says claims about uncompetitive pricing structure are “false and misleading”.
“As the exclusive general distributor, Beingmate sets the recommended retail price for Anmum; RRP is based on the competitive market dynamic.”
Fonterra also refutes claims that it hasn’t done enough to market Anmum in China.
“This is false and misleading because under the terms of our distribution agreement with Beingmate they are responsible for Anmum brand building activities.”
Beingmate, facing financial issues, has seen its share price dropped to 5.31 RMB (NZ$1.14) this month.
Alliance has announced a series of capital raise roadshow event, starting on 29 September in Tuatapere, Southland.
State farmer Pāmu (Landcorp) has announced a new equity partnership in an effort to support pathways to farm ownership for livestock farm operators.
Following a recent overweight incursion that saw a Mid-Canterbury contractor cop a $12,150 fine, the rural contracting industry is calling time on what they consider to be outdated and unworkable regulations regarding weight and dimensions that they say are impeding their businesses.
Trade Minister Todd McClay says his officials plan to meet their US counterparts every month from now on to better understand how the 15% tariff issue there will play out, and try and get some certainty there for our exporters about the future.
Brett Wotton, an Eastern Bay of Plenty kiwifruit grower and harvest contractor, has won the 2025 Kiwifruit Innovation Award for his work to support lifting fruit quality across the industry.
OPINION: Westland Milk may have won the contract to supply butter to Costco NZ but Open Country Dairy is having…
OPINION: The Gene Technology Bill has divided the farming community with strong arguments on both the pros and cons of…