Agriculture and Food @ The China Perspective

June 18, 2007

By STAFF EDITOR

Hotpot restaurants accounted for 36% of the total turnover of China’s 100 top caterers, the Economy Daily reported, citing findings from a Ministry of Commerce survey. The survey found 22 of China's top 100 major caterers were hotpot restaurants - called huoguo in Mandarin - which together operated almost 6,700 franchised stores across China. Their combined annual turnover added up to US$4 billion (RMB30 billion). The 100 caterers totally reported RMB84 billion turnover in 2006, up 24.6% from 2005. Retail sales in China’s hotel and catering sector grew 17.7% to RMB486 billion in the first five months in 2007. The Ministry of Commerce predicted total sales for the year will reach RMB1.22 trillion.

China eyes another record harvest

By STAFF EDITOR

China’s wheat production is expected to deliver a record unit yield for the fourth year in a row due to better cultivation techniques and higher government subsidies, the official Xinhua News Agency reported. The harvest is likely to set a new record even if the crop is affected by frost, drought, and bugs. Around 90% of the country’s wheat had been harvested by last Thursday, the Ministry of Agriculture said, without saying exactly how much had been harvested. The Chinese government has paid out nearly US$5.7 billion (RMB43 billion) in direct subsidies this year, up 64% on the previous year.

June 14, 2007

Food price hikes drive inflation

By STAFF EDITOR

China’s inflation registered the sharpest rise in two years because of increasing food prices, encouraging the central bank to consider raise interest rates, the People’s Daily reported. In May, China’s CPI rose 3.4% year-on-year, while food prices, which make up one-third of the index, rose 8.3%. According to National Bureau of Statistics data, the price of egg and meat surged 37% and 26.5% respectively from the previous year, due largely to higher feed prices. Some international experts forecast another two interest rate hikes – 27 basis points each - by the end of this year. The central bank raised the loan interest rate by 18 basis points to 6.57% on May 19 and the one-year deposit rate by 27 basis points to 3.06% to ease inflationary pressure. China’s household bank deposits plummeted over the past two months as the stock markets attracted more capital.

May 15, 2007

China dairy: the battle for market share

By AMY CHEUNG

Intense consolidation in the dairy industry has created a top tier of national giants and a number of second-tier dairy brands fighting it out for market share. Dong Wensheng of the Market Journal looks at the key players, and shows how they are looking to technology and new products to capture the highly profitable top-end of the market.

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	June 18, 2007 Hotpot dominates catering sector By STAFF EDITOR Hotpot restaurants accounted for 36% of the total turnover of China’s 100 top caterers, the Economy Daily reported, citing findings from a Ministry of Commerce survey. The survey found 22 of China's top 100 major caterers were hotpot restaurants - called huoguo in Mandarin - which together operated almost 6,700 franchised stores across China. Their combined annual turnover added up to US$4 billion (RMB30 billion). The 100 caterers totally reported RMB84 billion turnover in 2006, up 24.6% from 2005. Retail sales in China’s hotel and catering sector grew 17.7% to RMB486 billion in the first five months in 2007. The Ministry of Commerce predicted total sales for the year will reach RMB1.22 trillion. China eyes another record harvest By STAFF EDITOR China’s wheat production is expected to deliver a record unit yield for the fourth year in a row due to better cultivation techniques and higher government subsidies, the official Xinhua News Agency reported. The harvest is likely to set a new record even if the crop is affected by frost, drought, and bugs. Around 90% of the country’s wheat had been harvested by last Thursday, the Ministry of Agriculture said, without saying exactly how much had been harvested. The Chinese government has paid out nearly US$5.7 billion (RMB43 billion) in direct subsidies this year, up 64% on the previous year. June 14, 2007 Food price hikes drive inflation By STAFF EDITOR China’s inflation registered the sharpest rise in two years because of increasing food prices, encouraging the central bank to consider raise interest rates, the People’s Daily reported. In May, China’s CPI rose 3.4% year-on-year, while food prices, which make up one-third of the index, rose 8.3%. According to National Bureau of Statistics data, the price of egg and meat surged 37% and 26.5% respectively from the previous year, due largely to higher feed prices. Some international experts forecast another two interest rate hikes – 27 basis points each - by the end of this year. The central bank raised the loan interest rate by 18 basis points to 6.57% on May 19 and the one-year deposit rate by 27 basis points to 3.06% to ease inflationary pressure. China’s household bank deposits plummeted over the past two months as the stock markets attracted more capital. May 15, 2007 China dairy: the battle for market share By AMY CHEUNG Intense consolidation in the dairy industry has created a top tier of national giants and a number of second-tier dairy brands fighting it out for market share. Dong Wensheng of the Market Journal looks at the key players, and shows how they are looking to technology and new products to capture the highly profitable top-end of the market. Prev 27 28 29 30 31 32 33 34	Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. MOST POPULAR Shanghai MNC workers to get 10% pay boost: survey Shanghai Industrial Development takes control of Shanghai Haiji Real Estate Foshan launches $733m SME fund Changchun GE drugmaker builds new facility Sany Group merges subsidiaries Auto trade up in August Textile profits slow Investment in Shanghai manufacturing falls Beiqi Foton builds light truck plant in Sichuan province Goldman invests US$37m in NVC Lighting Go to Complete List >

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