Seales signs contract
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Competition in the New Zealand stock feed market is heating up, with Morrinsville-based Seales signing a supply contract with one of the world's largest commodity traders, Glencore.
Glencore has annual turnover of about US$116 billion and is between 10 to 15 times bigger than Fonterra and 20 to 25 times bigger than Viterra, its largest competitor who has been aggressively pursuing the New Zealand stock feed market. Seales chief executive Ross Hyland said the contract allowed Seales to move forward positively.
Mr Hyland said the New Zealand stock feed market was in a position where the majority of its raw materials were now imported as dairying took hold and dominated the landscape ahead of arable crops.
"Eventually it's going to impact more and more."
- © Fairfax NZ News
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