Fonterra and India’s Future Consumer are to wind down their 50/50 joint venture. Fonterra Future Dairy – was established in 2018 and has 22 employees but Covid-19 has caused significant disruption to the Indian market. Fonterra says the joint venture has delivered some important initiatives, including the launch of the Dreamery brand – consumer products made using Indian milk – and distribution of Fonterra’s Anchor Food Professionals products for the foodservice sector. The co-op entered the joint venture to test the Indian market, which has a large dairy consuming population but restrictive trade access for New Zealand dairy.
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