Fonterra came under fire from the New Zealand government, farmers and financial regulators for its handling of a food contamination scare that has triggered product recalls and spooked parents from China to Saudi Arabia.
The Fonterra Co-operative Group is one of New Zealand's largest milk processors and dairy exporters, producing more than 2 million metric tons of dairy products, specialty ingredients and consumer goods a year.
Shares in Danone drop 1.4 percent, the biggest losers on France's CAC 40 after Fonterra said it had found bacteria in some products that could cause botulism.
Units in the Fonterra Shareholders Fund plunged 8.7 percent on Monday after the New Zealand dairy giant was hit by the discovery of a bacteria that can cause botulism found in some of its products.
The sight of China's companies and even tourists buying up European baby milk products has given farmers a glimpse of what could be the export upside of an at times feared opening up of Europe's dairy market.
A global infant nutrition company has awarded a $40m deal to the Flow Technology division of American multi-industry manufacturing company SPX to supply process systems to its powdered infant formula processing plant in Germany.
Consumers' low confidence in domestic baby formula has led to a surge in complaints against imported baby formulas as some businesses turn to inferior foreign brands, experts said.
Mom Made Foods, Alexandria, Va., expanded its offering of “mom-approved” frozen meals with Mom Made Bites, available in Chicken & Apple Meatballsand Beef &Mom Made Bites meatballs Cheese Meatballs.
Westland Milk Products, a New Zealand-based dairy co-operative, has entered into infant formula market in China with the launch of its Westpro Nutrition infant nutrition range in Shanghai.
Sweet potato, kale, quinoa, pomegranate and Greek yogurt are among ingredients used in a new line of baby food from Plum Organics, a division of the Campbell Soup Co.
CPA:17 – Global, a publicly held non-traded REIT affiliate of WP Carey, has acquired the new European Innovation Center of Royal FrieslandCampina in the Netherlands for $41m.
To support Chinese consumers and offer more value, FrieslandCampina said that it will, with immediate effect, reduce its price of the full range of Friso products in China by 5%.
International infant formula producers in China have announced their plans to lower the prices, a move which comes after the government initiated an investigation into alleged price fixing by foreign firms.
