Fresh food consumption to rise
Print Edition
URBANIZATION and a wealthier population will lift Chinese per capita consumption of fresh food by 17 percent in the next 10 years and consumers may benefit from lower food prices under China’s Belt and Road initiative, a report said yesterday.
Chinese per capita consumption of vegetables, fruits, meat and dairy products will hit nearly 700 kilograms a year in 2025, according to a study by Netherlands-based Rabobank and Wageningen University.
Online sales of fresh food are expected to jump above 50 percent annually in the next few years to 2 trillion yuan (US$315 billion) by 2025, the study said.
Imported food will account for 13 percent of the total online fresh food sales, it said.
“China’s Belt and Road will link up vast areas including Europe and strengthen infrastructure and political commitment to cross-border trade, including food,” said Ping Chew, regional head of food and agribusiness research at Rabobank. “Domestic consumers will benefit from lower prices of high-quality imported food.”
China’s Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative is aimed at bolstering economic growth and regional cooperation between more than 40 countries across Asia, Oceania, Africa and Europe.
The report said the railway link between Chongqing and Rotterdam will shorten transport times by over 30 days compared with shipping, opening up new channels and opportunities for trade.
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