Food & Agribusiness Talking Points | 17/04/2018

In today’s talking points: Minister highlights ‘enormous potential’ of Chinese beef market; Wageningen University to develop Chinese agriculture and food research centre; 3 major trends in China’s packaged food market.

Minister highlights ‘enormous potential’ of Chinese beef market

On April 16, Ireland’s Minister for Agriculture, Food and the Marine Michael Creed announced that beef exports to China have been fully approved by Chinese authorities. Currently three Irish beef factories have satisfied the production standards required to enter the largest single food market in the world. So far, they are the only European processers that have been granted access. This development is part of an overall Brexit strategy for the Irish Government, which is to enter new markets in light of the UK’s uncertain future.

Read more at: RTE

Wageningen University to develop Chinese agriculture and food research centre

A new food and agriculture research centre is to be developed east of Beijing, lead by the Netherlands’ Wageningen University. Academic institutions and the business community will be housed within the research centre, which is anticipated to become China’s leading R&D centre in the field of food and agriculture. Wageningen University is also involved in the dairy industry in China through a joint venture to improve standards.

Read more at: Dutch News

3 major trends in China’s packaged food market

According to new study conducted by HKTDC Research, three new trends have been identified in China’s consumer market for packaged foods. The rise of incomes in China has shifted traditional buying habits of purchasing low-price items to branded items, as well as increasing interest in products with diversified flavours and ‘attractive’ packaging. Additionally, younger consumers are more receptive to new products. With all participants surveyed having experienced online shopping, the market is said to have matured. Yet despite these immense developing trends, brick and motor stores will not be replaced any time soon.

Read more at: Sun Star