Fonterra confirms involvement in China dairy products probe

WELLINGTON, July 4 (Xinhua) -- New Zealand dairy giant Fonterra revealed Thursday that it was helping Chinese authorities with an investigation into dairy products in China.

A brief statement from the company confirmed it had been contacted by the China National Development and Reform Commission (NDRC) regarding "a current broad-ranging investigation of consumer dairy products."

"Fonterra understands that the NDRC is reviewing a wide range of consumer businesses in the Chinese dairy industry as part of this work," it said.

"Fonterra operates a small consumer business in China and has a long history of engagement with government agencies and is co- operating fully with the NDRC."

Reports in the New Zealand media said the investigation was believed to be focusing on price manipulation involving major foreign companies selling milk powder into China.

Fonterra, a farmer-owned cooperative, is building dairy farms in China with the aim of producing 1 billion liters of milk there by 2020.

We Recommend:
Chinese investors' happiness and sadness	Top 10 luxury villas of China in 2013	Soft gold -- gambiered Guangdong silk
China's 1st intelligent high-speed train tested	Glamorous models pose at Shenyang auto show	Top 10 cities where home prices are set to soar
High-end singles party attracts swarm of girls	Beijing's taxicabs in 30 years	12th Int'l Automobile Industry Expo kicks off