Namchow Food Group signs Jinshan's first CIIE deal

Nov 8, 2019

Namchow Food Group (Shanghai) Co Ltd, based in Jinshan District, signed a US$3-million intended contract with the world's largest dairy exporter Fonterra at the National Exhibition and Convention Center in Shanghai on Wednesday.

It's the first contract signed by a Jinshan enterprise at the ongoing 2nd China International Import Expo.

Namchow Food Group was launched at the Jinshan Industrial Zone in 2016. In 2018 the sales of the company reached 600 million yuan (US$85.71 million).

New Zealand's Fonterra produces more than 2 million tons of dairy raw materials, special raw materials and consumer products each year, 95 percent of which are exported to 140 markets worldwide.

Fonterra has signed collaborative deals with Chinese partners worth a total of 18 billion yuan during the CIIE as local food and beverages companies embrace high-quality raw material.

The firm's business in China now accounts for nearly a quarter of Fonterra's global business, ranking first in terms of revenue, profit and sales volume, Paul Washer, Fonterra's chief financial officer of Greater China, revealed.

Fonterra's food-professionals sector is the fastest-growing business in China and it is also working closely with local caterers on innovative dishes and tastes.