In the end, China’s economy faired ‘surprisingly well’ during 2020 as government efforts to deal with Covid-19 and support for manufacturing businesses saw a return to growth in the latter half of the year, notes Richard Field in this month’s edition of Dairy Products China News.
Even so, retail sales took a dip and with differing priorities a 1.1% decline in liquid dairy sales during Q1-Q3 may have been less. Moving forward, consumer prospects remain key to further growth in dairy consumption, especially at a ‘higher quality’ price point.
Dairy analysis in this issue:
- The Dairy Consumption Trend Report (Q1-Q3) reflecting a rise, with recovering liquid dairy (LMP) demand and growing frozen dairy (FMP) consumption.
- A three-Year Action Plan from the Inner Mongolia Autonomous Region which aims to raise its dairy herd to 2.15m head and milk production to 7.2m tonnes by 2022.
- Mengniu forges ahead with Chinese farm and plant construction ahead of 2021 openings.
- Youran Dairy publishes its IPO prospectus on the HKEX.
- Fonterra posts significant profit growth despite a revenue slip.
- Yiming Food looks to raise USD75.3m to grow its store network and expand capacity.
- A booming dairy sector despite supply shortages pushing up raw milk prices.
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