To India for milk
New Zealand dairy conglomerate Fonterra is in talks with Indian Farmers Fertiliser Cooperative Ltd. to set up a dairy farm in India. The project may cost as much as 1 billion rupees ($225 million) and support as many as 4, cattle, the Economic Times reported today, citing IFFCO managing director US Awasthi. It will initially produce 1 million litres of milk daily, the English-language Indian paper said. The farm’s cattle will include 3 cows imported from New Zealand Australia and 1, local cows that will be added every year for three years, the report said. The primary objective of the dairy farm at Nellore was import substitution and to develop India as a hub for milk exports to southeast and west Asia.