Fonterra chief executive officer Theo Spierings addressed the China Business Summit in Auckland this morning, saying that Fonterra faces the risk of losing Chinese market share to European competitors.
As the NZ Herald reports, “Spierings said Fonterra was aiming to grow its business in China from around $5 billion in 2014 to $10 billion over the next five years.”
NZ Herald quotes Spiering, saying that “one big change that I expect is the growth of tier three and four cities. It’s going to be a different ball game – completely different.”
“Should we be concerned about Chinese companies investing in New Zealand because of brand New Zealand and the super premium prices they can achieve in their market? I don’t think we should be concerned,” he said.
“Should we be concerned about Chinese companies investing in New Zealand because of brand New Zealand and the super premium prices they can achieve in their market? I don’t think we should be concerned,” Fonterra CEO said.
Source: FXStreet
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