Although disappointed, Fonterra says the rationale for its partnership with Beingmate still stands. The Chinese market is growing rapidly and within five years forecast demand for infant and baby dairy products will be more than the total for other global markets.
China is one of Fonterra's largest global markets, accounting for $3.4 billion of its sales revenue.
Conferences on
More than 1000 delegates from around the world are expected to take part in three top-ranked animal recording and genetics conferences in Auckland next month.
It will be the first time the World Congress on Genetics Applied to Livestock Production has held its four-yearly congress in New Zealand, and only the second time in the southern hemisphere. The congress will be combined with the annual conferences for the International Committee for Animal Recording and Interbull.
All three events will be held at the Aotea Centre in Auckland, starting February 7.¦