New Zealand's Fonterra to sell its China dairy farms

New Zealand's globale dairy giant Fonterra said today it has agreed to sell its farms in China

• for a total of NZ$555 million ($367.97 million)

Fonterra had been planning this for a good while, to focus on domestic markets more.

• “For the last 18 months, we have been reviewing every part of the business to ensure our assets and investments meet the needs of the Co-op today”
• “Selling the farms is in line with our decision to focus on our New Zealand farmers’ milk.”