Following almost two years of legal and political challenges, China’s Shanghai Pengxin finally settled its purchase of the 16 Crafar Farms yesterday. The Supreme Court last month threw out an appeal by Maori trusts that had been negotiating to buy two of the farms, which were considered ancestral land, clearing the way for the settlement.
Chinese interest in investing in Fonterra’s Cooperative Group’s shareholder fund was predictable once the scheme was approved and underlines the need for constitutional protections for the Trading Among Farmers scheme, says the main farm lobby group. China’s sovereign wealth fund, the US$400 billion China Investment Corp, is in talks to buy units in the $525
Tea is among the products Britain could be exporting to China following a UK trade mission to Shanghai. DEFRA secretary Owen Paterson is spearheading the biggest ever food trade delegation to China to start filling a £1bn hole in the British economy. China is consuming significantly more Western-style milk, cheese and yoghurt, and Mr. Paterson
The Victorian dairy industry, which produces about 86% of national dairy exports, will need to step up production to meet growing world demand — particularly from China, Australia’s fastest-growing cheese export market — at the end of a decade-long drought and two consecutive years of rainfall in key dairy areas. Victorian Premier Ted Baillieu told
Fonterra, the multinational dairy company owned by 13,000 New Zealand dairy farmers, has signed an investment agreement with Yutian County in Hebei province to develop two more large-scale dairy farms. Kelvin Wickham, president of Fonterra China and India, said the move is the latest in a plan to create a hub of five farms in
One of China’s biggest finance companies is looking to invest in Tasmania’s dairy industry. The Premier, Lara Giddings, flew back to Tasmania yesterday after spending 12 days in Asia promoting the state. Ms Giddings met the president of China Investment Corp, a sovereign wealth fund, to talk about investing in Tasmania. A spokesman for the
Chinese consumers had to dig deeper into their pockets in August 2012 when purchasing foods. Fresh vegetables were 23.8% more expensive. The National Bureau of Statistics reported recently that the price index for food was 3.4% higher than last year. Of foods which were compared to August 2011, in particular fresh vegetables (+23.8%) and fruit