Dairy merger down under

- Last updated on GMT

Related tags: International trade

New Zealand Dairy Group and Kiwi Co-operative Dairies, New
Zealand's two dominant dairy manufacturing companies, announced
plans to merge with the international...

New Zealand Dairy Group and Kiwi Co-operative Dairies, New Zealand's two dominant dairy manufacturing companies, announced plans to merge with the international marketing group, the Dairy Board, to create the country's biggest exporter, the Financial Times reports this week. The merged group, to be known initially as Global Dairy Company, claimed it would handle 34 per cent of what it called the "internationally accessible" world dairy trade - that is, markets that are not constrained by import barriers. The company, which would be farmer-owned, would control 95 per cent of New Zealand's milk supplies with turnover of NZ$9bn (US$3.9bn) a year. Of this, exports account for NZ$6.5bn.

Related topics: Market Trends

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