Whole milk powder (WMP) prices are now sitting above pre-Covid-19 levels and New Zealand farmers can thank a resurging Chinese economy for that.
Speaking at the opening of a $50 million expansion at New Image Group (NIG) Nutritionals goat milk plant in Paerata, South Auckland, Key said that as Prime Minister he was a big fan of foreign investment.
Key also told Rural News imposing another tax on farmers now for greenhouse gas emissions won't achieve much and should be out of the question until science provides more answers. Read more here.
“I don’t think we always understand how important it is,” he said speaking on foreign investment.
NIG Nutritionals is 10% owned by the Chinese company Newer Biotechnology (Hunan) Ltd and 90% owned by Graeme Clegg’s New Image Group.
The company makes goat milk powder products for export, direct selling via operational offices in 20 countries. Last year it was independently ranked as the 52nd biggest direct selling company in the world.
Key spoke at the opening as PM Jacinda Ardern was unavailable to attend.