One of Japan’s largest companies is buying into an Australian dairy processor. Mitsubishi Corporation is buying 24 percent of Tasmanian Dairy Products from Murray Goulburn Cooperative. Tasmanian Dairy Products is a $75 million processing plant which will have the capacity to process 250 million liters of milk per year into dairy food ingredients for the Asian and Middle Eastern markets. The plant should be up-and-running later this year.
Murray Goulburn Cooperative will retain just over 56 percent of the Tasmanian operation with local investors holding around 20 percent.
This is the latest in expanding relationships between the dairy industry in Oceania and the growing Asian market for dairy products. New Zealand dairy cooperative Fonterra has been investing heavily in dairy farms in China and China recently purchased 16 dairy farms covering 19,500 acres on the north island of New Zealand.
Read the full statement from Murray Goulburn here: