Chinese dairy giant the Yili Group, which operates New Zealand’s Westland Dairy Company and Oceania Dairy, has retained its fifth position in the 2022 Rabobank Global Dairy Top 20.
Yili achieved 31.7 per cent annual growth with turnover of US$18.2 billion and retained its position as the leading Asian dairy for the ninth year in a row.
In New Zealand, Yili has upgraded production and doubled capacity of its Hokitika butter plant at Westland Milk Products, effectively expanding the market share of Westgold butter.
A Yili spokesperson said the Rabobank Report highlights “intense competition” across the industry with combined turnover of the Global Dairy Top 20 companies jumping by 9.3 per cent in US dollar terms, following last year’s decline of 0.1 per cent.
“Due to its acquisition of Ausnutria Dairy and strong domestic sales growth, Yili has become Asia’s first dairy producer to exceed RMB 100 billion (US$14.85 billion) in turnover,’’ the spokesperson said.
According to the company, innovation has helped Yili maintain market leadership in its long-standing core liquid milk and ice cream businesses. Parent brand Yili, subsidiary brand Satine and AMBPOMIAL all made RMB 20 billion (US$2.97 billion) in annual sales. Retail sales of cheese products increased 6.3 per cent year on year in market share.
New Zealand dairy giant Fonterra also featured in the Rabobank Global Dairy Top 20 in sixth place with turnover of US$14.8 billion. This was the same position it held last year.