[28 June/ Dairy News]

KPMG Global Head of Agribusiness, Ian Proudfoot said Fonterra should be worried if Coca-Cola entered the market by purchasing a dairy company as they would want to be number one. Mr Proudfoot said things were changing very rapidly in food with biological, physical and digital technologies creating new opportunities and solutions. Mr Proudfoot added that the biggest change would be in pharmaceutical companies as they were now becoming producers of food that had health benefits. Mr Proudfoot noted that the conversation around the environment was changing from one about doing the right thing to one centred around what the law required.