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Food prices for all commodities globally except cereals rose in the past month, according to the UN’s Food and Agriculture Organisation (FAO) Food Price Index.
The Vietnam’s government has removed a longstanding foreign-ownership limit on dairy manufacturer Vinamilk (Vietnam Dairy Products JSC) , which is the one of the country’s largest companies with a market capitalisation of about US$8 billion. The move is said to further boost overseas interest in the world’s fastest-growing markets.
Dairy company Schreiber Dynamix Dairies Pvt Ltd (SDDPL), a joint venture between US-based dairy manufacturer Schreiber Foods and the Indian dairy company Dynamix Dairies, has started operations of its second aseptic food processing and packaging facility in Punjab.
A new dairy plant, as part of the joint venture between Au Lait Australia and Nature One Dairy, will establish a direct link for Darling Downs dairy farmers to the Asian dairy market.
According to a report by TechSci Research titled “India Dairy Products Market By Product Type, Competition Forecast &; Opportunities, 2011–2021”, the yoghurt market in India grew at a CAGR of 28.9 percent during 2011 to 2015. It is projected to grow at an even faster pace over the next five years to reach US$1 billion by 2021.
Dairy giant Fonterra has forecast a 63 percent jump in its payout for organic milk for the 2016/17 season. The company's opening market-linked organic milk price for next season is forecast at US$9.20 per kg of milk solids, a big step up from this season’s US$5.65 per kg of milk solids.
Cornell University and Yili Industrial Group has signed a research agreement. Under the agreement, Yili Group will fund the development of novel cheese products aimed at the Chinese market.
Fonterra's expanded Cobden plant has created around 50 new jobs and will supply fresh milk to Australian retailer Woolworths for the next 10 years.