8% growth for dairy revenue after crisis
By Zhang Fengming |
November 25, 2009, Wednesday
|
Print Edition
Print Edition
CHINA'S dairy market is expected to post an 8 percent sales revenue growth this year as consumers seek more reliable higher-priced products after the melamine crisis, according to industry analysts.
China's dairy market is forecast to post revenue of 160 billion yuan (US$23.4 billion) this year, up from 148 billion yuan last year, Rabobank analysts said.
The forecast was based on listed dairy companies' third-quarter reports and market analysis, the bank said.
"Chinese consumers shifted to more reliable brands which offer more value-added premier products after the melamine crisis," said Jean-Yves Chow, Rabobank's senior analyst in North East Asia, yesterday in Shanghai.
China's dairy market was hard hit by the melamine crisis in 2008, which damaged consumer confidence in the industry. However, this year saw rapid recovery and the dairy industry revenue will be eight times the figure in 2000.
Rabobank analysts said they expect China's dairy market to post steady growth in the coming years, boosted by growing incomes.
Chow said the penetration of dairy products in less developed second and third-tier markets will also support the growth of dairy industry revenue in the future.
China posted a strong growth despite the global financial crisis.
China's economy expanded 8.9 percent year on year in the third quarter, up from the rise of 7.9 percent in the second quarter and 6.1 percent in the first quarter. Earlier this month, the World Bank raised its forecast for China's economic growth this year to 8.4 percent from 7.2 percent.
China's dairy market is forecast to post revenue of 160 billion yuan (US$23.4 billion) this year, up from 148 billion yuan last year, Rabobank analysts said.
The forecast was based on listed dairy companies' third-quarter reports and market analysis, the bank said.
"Chinese consumers shifted to more reliable brands which offer more value-added premier products after the melamine crisis," said Jean-Yves Chow, Rabobank's senior analyst in North East Asia, yesterday in Shanghai.
China's dairy market was hard hit by the melamine crisis in 2008, which damaged consumer confidence in the industry. However, this year saw rapid recovery and the dairy industry revenue will be eight times the figure in 2000.
Rabobank analysts said they expect China's dairy market to post steady growth in the coming years, boosted by growing incomes.
Chow said the penetration of dairy products in less developed second and third-tier markets will also support the growth of dairy industry revenue in the future.
China posted a strong growth despite the global financial crisis.
China's economy expanded 8.9 percent year on year in the third quarter, up from the rise of 7.9 percent in the second quarter and 6.1 percent in the first quarter. Earlier this month, the World Bank raised its forecast for China's economic growth this year to 8.4 percent from 7.2 percent.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
