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SHANGHAI: Eyeing rapid urbanisation and rising disposable incomes in China, New Zealand-based Silver Fern Farms is upbeat about the Chinese consumption market and will continue to invest in the country, says its top executive.
Simon Limmer, chief executive of Silver Fern Farms, said: “China is one of the largest markets for meat. It consumes the most pork, poultry and mutton, and its consumption of beef and veal is second only to the United States.”
“Fuelled by the consumption upgrade, there is more room for further growth in this market down the line. China is the largest importer of New Zealand red meat, demonstrating its preference for New Zealand as a country of origin for the product category,” Limmer said.
Data from the General Administration of Customs showed that in August, China imported 658,000 tonnes of meat, up 2.4% on a monthly basis. Among them, the import of beef rose 1% month-on-month to 273,000 tonnes.
In the first eight months, China imported some 1.70 million tonnes of beef, up 12% on a yearly basis, GAC said.
Customs data showed that between January and July, China imported about 4.10 million tonnes of meat, which was valued at US$17bil (RM80bil).
The average import price of meat reached US$4,156 (RM19,616) per ton, 27.6% higher than in the same period in 2021.
Bo Wenxi, chief economist at marketing firm Interpublic Group China, said: “Amid the Covid-19 pandemic, consumers are paying increasing attention to the quality of food. China’s consumption upgrade also promoted people’s pursuit of higher-quality ingredients.”
Limmer said: “We are confident in China’s red meat consumption market.” — China Daily/ANN