In today’s talking points: Chinese company pays estimated $55 million for its second prime cattle aggregation; Golden Week causes daigous to scramble for popular products; Australian cheese products looking to win over Asian market with sweet flavours; Australia’s largest ginger producer sells 23% stake to Chinese companies
Chinese company pays estimated $55 million for its second prime cattle aggregation
Chinese-owned Rifa Salutary has bought another two aggregations in northern NSW cattle country. The company had previously bought a 23,400-hectare aggregation earlier this year for an estimated $32 million. The purchase now means the company has 40,000 hectares of country in both NSW and Victoria, having spent approximately $150 million in agriculture and related investments. Rifa Salutary managing director has said that the acquisition of these properties gives the company the scale they want for their business.
Read more at: Farm Weekly
Golden Week causes daigous to scramble for popular products
Sydney’s Town Hall was in chaos last Saturday with the China eCommerce Expo. The start of China’s ‘Golden Week’ celebrations caused daigous to buy up bulk products to ship back home during the festivities in China with large lines queuing to enter the expo. Brands like Dairy Farmers, Capitol Health and Dr LeWinn’s were amongst many having their products favourably sought after. The Chinese personal shoppers bought up highly popular products like milk powder, baby formula and vitamins to send to family and friends back in China. The expo moved down further to Melbourne the following day, with a similar welcome from daigous.
Read more at: Financial Review
Australian cheese products looking to win over Asian market with sweet flavours
Chocolate, fruit and nut flavoured cheese products are being produced in hopes to enter the Asian market. Beston Pure Foods began production of the sweet range last year with flavours such as almond, orange, yoghurt and nacho being introduced. Beston Pure Foods General Manager has said that the unusual flavours were designed as a way to encourage people to try cheese. Australia is currently the second largest exporter of cheese to China with 17,000 tonnes send in 2014 worth US$81 million.
Read more at: Food Mag
Australia’s largest ginger producer sells 23% stake to Chinese companies
Buderim Ginger, Australia’s top producer of ginger has announced it has signed a $20 million acquisition deal with Chinese publicly listed company Wattle Hill RHC Fund and Asia Mark Development- a business associate of QiaQia Food Co. The deal will see the two investors take an initial 23% stake in Buderim Ginger and the ability to appoint two directors to the board. Chinese interests in Australian food production companies are becoming increase regular with many multi million deals being signed in the last few years.
Read more at: The Australian