Dutch dairy group quits China

Dutch dairy group Friesland Coberco, makers of the Dutch Lady brand, announced it was withdrawing from China, citing overcapacity in the Chinese dairy market and a lack of profits. The company said it had terminated production, marketing and sale of milk and yogurt drinks, transferring its activities to its local partner Tianjin Sino-Finnish. Although the company ranked third in South China's milk market, it did not make a profit in its eight years of operation, a Friesland spokeswoman told state media. She said that, with no prospect of the situation changing, the company had decided to leave the Chinese market.