China import changes end Murray Goulburn plan

Dairy processor Murray Goulburn has dropped plans for a new infant formula supply partnership after changes to Chinese import regulations rendered the strategy unviable.
Australia’s biggest dairy processor announced on Monday that it and US-based infant formula maker Mead Johnson Nutrition had ‘mutually agreed’ to abandon their supply agreement, which was unveiled nearly nine months ago.

‘The framework agreement we envisaged back in March is no long relevant as a result of the change in Chinese regulations,’ Murray Goulburn interim chief executive David Mallinson told AAP.
The regulatory changes include restrictions on the number of baby products companies are allowed to sell in China.
– See more at: http://www.skynews.com.au/business/business/market/2016/12/05/china-import-changes-end-murray-goulburn-plans.html#sthash.eNeKF4SX.dpuf

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