China market is food for thought
By Jin Jing |
May 19, 2011, Thursday
|
Print Edition
Print Edition
CHINA remains one of the top promising markets for imported food as a stronger Chinese yuan makes those products more affordable to Chinese consumers, according to exhibitors at the food exhibition SIAL China 2011, which opened at the Shanghai New International Expo Center in Pudong yesterday.
Food distributors and manufacturers said that demand in the Chinese market is crucial for them to maintain profitability amid the rising costs of raw material.
Sami Katrib, vice president of United States food distributor Magic Time International, said prices of some commodities, such as cereals and corn, have risen and are reflected in the retail prices.
"We have gone through several repeated price increases - and size reductions - for cereals over the past year," he said. "But as the Chinese currency becomes stronger, it will be wonderful for my export business."
Another US distributor Otis McAllister unveiled up to 17 Ghirardelli chocolate products during its first appearance at the show yesterday.
Everett C Golden, president and chief operating officer of the company, said some of the products have seen a price hike of about four percent since May 1. But he noticed that the buying momentum has not been dented in China despite slower growth.
The three-day SIAL China 2011 has attracted 1,500 exhibitors from over 80 countries and regions this year.
Food distributors and manufacturers said that demand in the Chinese market is crucial for them to maintain profitability amid the rising costs of raw material.
Sami Katrib, vice president of United States food distributor Magic Time International, said prices of some commodities, such as cereals and corn, have risen and are reflected in the retail prices.
"We have gone through several repeated price increases - and size reductions - for cereals over the past year," he said. "But as the Chinese currency becomes stronger, it will be wonderful for my export business."
Another US distributor Otis McAllister unveiled up to 17 Ghirardelli chocolate products during its first appearance at the show yesterday.
Everett C Golden, president and chief operating officer of the company, said some of the products have seen a price hike of about four percent since May 1. But he noticed that the buying momentum has not been dented in China despite slower growth.
The three-day SIAL China 2011 has attracted 1,500 exhibitors from over 80 countries and regions this year.
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