Rabobank inks dairy agreements
Print Edition
RABOBANK signed agreements with emerging Chinese dairy companies and a Sino-Dutch association yesterday as it taps further the potential consumption for premium dairy products in the world’s second-largest economy.
The Dutch lender said it will provide export credit and advisory services to China ZhongDi Dairy Holdings Co, one of China’s emerging dairy companies, helping it expand its business by importing foreign cattle into northern China.
The bank also plans to tie up with Sino-Dutch Dairy Development Center as well as Van Hessen China Ltd on farming know-how input and high-end product business, said Wilco Hendriks, chief executive officer at Rabobank China.
“What needs to happen in the sector is consolidation, and that’s what the government is pushing right now,” Hendriks said after the signing ceremony in Shanghai. “They’re absolutely on the right track and we want to support that.”
ZhongDi, which plans to sell milk sourced from imported Australian cattle to Mengniu Dairy Co and Yili Dairy Co, expects to keep 50,000 cattle in farms in Beijing, Liaoning and Inner Mongolia.
“Hopefully, we will reach 100,000 by the end of 2017 after starting the financial program with Rabobank,” ZhongDi’s Chief Financial Officer Ng Minghon told Shanghai Daily.
Rabobank sees opportunities in food and agribusiness on a growing middle class.
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