Fonterra and Future Consumer Limited have agreed to wind down their 50:50 India joint venture - Fonterra Future Dairy.
The joint venture was established in 2018 and has 22 employees, all of which will receive appropriate entitlements.
The last few years have been challenging for the joint venture with COVID-19 causing significant disruption to the Indian market.
Despite this, the joint venture has delivered some important initiatives, including the launch of the Dreamery brand which is a range of consumer products made using Indian milk, and distribution of Fonterra's New Zealand Anchor Food Professionals products for the foodservice sector - both of which have received positive feedback from consumers and customers.
The Co-op entered the joint venture as a capital light way to test the Indian market, which has a large dairy consuming population but restrictive trade access for New Zealand dairy.
We will continue to have a presence in India through Anchor Food Professionals and our Ingredients business, and will explore opportunities to grow access for our New Zealand milk as they come up.
Judith Swales, Asia Pacific CEO
Related Releases
Global
Fonterra lifts forecast Farmgate Milk Price and maintains earning guidance range
Fonterra Co-operative Limited today lifted its 2021/22 forecast Farmgate Milk Price range to NZ$9.30 - $9.90 per kgMS, up from NZ$8.90 - $9.50 per kgMS.
February 24, 2022
Global
Fonterra, NZX and EEX enter GDT partnership for future growth
Fonterra has agreed a strategic partnership with New Zealand's Exchange (NZX) and the European Energy Exchange (EEX) to each take ownership stakes in Global Dairy Trade (GDT) alongside the Co-op.
February 17, 2022
Global
Fonterra lifts forecast Farmgate Milk Price range
Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS.
January 25, 2022
Attachments
Original Link
Original Document
Permalink
Disclaimer
Fonterra Co-operative Group Limited published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 20:43:07 UTC.
Fonterra Co-operative Group Limited is a New Zealand-based dairy co-operative company. The Company is primarily involved in the collection, manufacture and sale of milk and milk-derived products through its ingredients, consumer, and foodservice channels. It operates through three segments: Global Markets, Greater China, and Group Operations. The Global Markets segment represents the global ingredients, foodservice and consumer channels outside of Greater China. The Greater China segment represents the ingredients, foodservice and consumer channels in Greater China. The Group Operations segment represents the business activities from collecting and processing New Zealand milk, through to selling products to its customer-facing regional business units, Global Markets and Greater China. Its channel of branded consumer products includes powders, yoghurts, milk, butter, and cheese. The Companyâs brands include Anchor, Anmum, Anlene, and Chesdale, among others.
FONTERRA CO-OPERATIVE GROUP LIMITED 
