The MoU with Wyeth is a commitment by the company to source all of its dairy ingredients for its Illuma base brand.
Bord Bia CEO Tara McCarthy has signed a Memorandum of Understanding (MoU) with Wyeth China as the state agency, along with 12 Irish food companies pushed for an increased foothold in China at CIIE (Chinese Import and Export Expo) in Shanghai. It is anticipated that more memos of understanding will also be signed by a number of the companies participating at the event in the coming days. The value of the Wyeth agreement to the Irish dairy industry is estimated at €110 million annually. Wyeth is a major strategic partner of Ireland in China which is Ireland`s second most important market for dairy exports, accounting for €666.4 million in 2017.
The MoU with Wyeth is a commitment by the company to source all of its dairy ingredients for its Illuma base brand exclusively from milk from Irish farms participating in Bord Bia’s Sustainable Dairy Assurance Scheme under the Origin Green programme, Ireland’s national food and drink sustainability programme, the only such programme operating on a national basis in the world.
Wyeth and Bord Bia also agree to share consumer and market insight on the Chinese market, undertake awareness raising around Ireland and its sustainably produced food offering and to work together on research and development. Speaking at the signing event Tara McCarthy said, “This agreement is very good news for the Irish dairy industry and a vote of confidence in the Irish food sector by one of its strategic partners, committed to working with us on sharing insights on Chinese consumers and building awareness of Ireland’s premium food offering in the market”.
