Auckland, Nov 12(ANI): New Zealand-based Fonterra Co-operative Group, the world's largest dairy exporter, has signed a memorandum of understanding (MoU) with the Indian Farmers Fertiliser Co-operative (IFFCO) and Global Dairy Health to advance the company's aim of establishing large-scale dairy farms in India.
According to Stuff.co.nz, Fonterra along with IFFCO and Global Dairy Health will conduct a joint feasibility study into a pilot dairy farm in India.
"We are delighted to be working with IFFCO, the world's largest farmer fertiliser co-operative with a membership of 50 million farmers and GDG, which is highly respected in India," Fonterra Chief Executive Andrew Ferrier said.
"India is a vibrant and growing market and we are excited by the potential opportunities there," he added.
Ferrier further said that the approach in India would be similar to that taken by the company in China.
The dairy giant had established a pilot farm for 3000 cows in Tangshan in 2007, which now has a herd size of 6000.
The farm has produced 25,000 tonnes of milk over the three years.
The multinational company owned by 13000 New Zealand dairy farmers accounts for about 40 percent of global trade in butter, milk powder and cheese. (ANI)