The former darling of the NZX was forced to slash its revenue forecasts and write down the value of its assets.
China’s recovery from the Covid-19 pandemic helped lift red meat exports over $1bn in March 2021, says the Meat Industry Association.
Food exporters have been warned not to fall back on a ‘business as usual’ approach following the disruption Covid-19 because there is more to come.
Fonterra has sold its two China farming hubs in Ying and Yutian to Inner Mongolia Youran Dairy Co.
The West Coast dairy company will double the capacity of its Hokitika butter manufacturing plant.
Zespri is progressing its plan to move against the unlawful growing of kiwifruit in China as illegal plantings increase.
The co-op said it was “pleased” with its results as the previous period’s earnings were inflated by asset sales.
The company suffered a 35% drop in interim profit in what it described as a “challenging” first half year.
The dairy company says it expects an uptick in activity in the second half of FY21 despite continuing uncertainty.
Chinese authorities say the virus has been detected on beef and tripe and packaging from NZ, Brazil and Bolivia.
Zespri intends to sign a Memorandum of Understanding with government officials in China .
Zespri has started a procurement trial in China to try and combat illegal plantings of its SunGold kiwifruit.
NZTE has launched a new global campaign to showcase the country’s food and beverage industry.
Fonterra is planning to pay down debt with $555m from the sale of farms it has developed in China.