New Zealand's dairy group Fonterra, one of the largest in the world has announced it is leaving Chile after thirty years and has put on sale its Chilean branch Soprole of which it controls 99% of the stock.
New Zealand dairy exporter Fonterra is cutting jobs in an effort to shore up its cash flows as a slump in global dairy demand, particularly from number one buyer China, threatens to snuff out the country’s “white gold rush.”
New Zealand's government has stepped up efforts to contain the fallout from a scare over contaminated products made by dairy giant Fonterra. Officials have been sent to Fonterra facilities in New Zealand and Australia to oversee the flow of information.