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2 Aug 2021 19:01
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  •   Home > News > Rural

    Fonterra says its stand-out market continues to be China

    Fonterra says its stand-out market continues to be China


    Fonterra
    Fonterra
    The dairy giant has posted normalised Earnings Before Interest and Tax of 684 million, up 17 percent, for the first six months of the financial year.

    In Greater China, Fonterra's normalised EBIT was 339 million dollars, a 38 percent increase.

    But the co-op says it's decided to sell-off the joint venture JV farms in China, by the end of this calendar year.

    CEO Miles Hurrell says it's in line with the strategy to focus on New Zealand milk.

    © 2021 Newstalk ZB, NZCity

     Other Rural News
     05 Jul: Changes to how Fonterra calculates the price of milk
     28 Jun: Fonterra has agreed to sell its two joint venture farms in China
     25 Jun: The group representing the country's dairy farmers is reassured to see additional funding delivered for flood-affected farmers in Canterbury
     16 Jun: Dairy prices have dropped 1.3 percent, at Fonterra's latest Global Dairy Trade auction overnight
     26 May: Fonterra farmers believe this season's milk price won't budge much from a new midpoint of seven dollars and 55 cents
     06 May: Dairy farmers have six months to decide on a capital restructure for Fonterra
     05 May: Hopes Fonterra will streamline how farmers buy and sell units
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