Fonterra, the world's biggest dairy exporter, cut the price of its Anmum-branded products in China as the local regulator looks at potential price manipulation by major foreign firms selling into the world's most-populous nation.
Fonterra will trim 9 per cent from its Anmum maternal health products in mainland China from next month "to better meet consumer needs in light of recent industry-wide price revisions," Fonterra president for Greater China and India, Kelvin Wickham, said in an emailed statement.
"We are committed to providing high quality, premium imported products to Chinese consumers and we are also committed to being an integral part of and long-term partner to the Chinese dairy industry," Wickham said.
The New Zealand firm joins Abbott Laboratories, Nestle, Danone, Royal FrieslandCampina and Mead Johnson Nutrition in cutting prices since the China National Development and Reform Commission launched its investigation.
Earlier this month, China's official publication, the People's Daily, reported the NDRC had evidence infant formula prices have climbed 30 per cent since 2008. That was the year Fonterra was embroiled in the melamine scandal that left several infants dead after its farmers at its Chinese partner, San-lu, added melamine to the milk to lift its protein.
