Mike had the headline yesterday, the Wall Street Journal went into more detail in this article: New Zealand Says Fonterra’s Product Recall Unwarranted (The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline).
- In early August, Fonterra said some of its products may contain clostridium botulinum, a bacteria that can cause botulism
- But tests over the past three weeks showed the organism found in Fonterra’s whey protein to have been clostridium sporogenes, which poses no health risks
There is more at the article.
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Good news for NZ and Fonterra. Of course, for traders of the NZD caught on the wrong side as the kiwi got marked down on Monday August 5 and on subsequent headlines and fresh concerns, this comes as little comfort. On the other hand, for those on the right side of the selling on the false alarm, their bank accounts don’t care.
