Re: Dairy Industry
Posted: Mon Mar 06, 2017 9:37 pm
China's Chefs Are Finally Falling in Love With Cheese
China's foodservice market is easier to penetrate for Fonterra and Friesland, as chefs trained in demo kitchens find ways to use dairy.
Source: Bloomberg
https://www.bloomberg.com/news/articles ... ith-cheese
China's foodservice market is easier to penetrate for Fonterra and Friesland, as chefs trained in demo kitchens find ways to use dairy.
At $150 billion a year, China’s foodservice industry is the largest in the world after the U.S. and Japan, and western-style cuisine is growing in popularity
Fonterra sold the equivalent of 271 million liters (72 million gallons) of milk in consumer and food-service products to China in the quarter ended Oct. 31, a 36 percent increase from a year earlier.
The gross margin in China across both categories increased to 39 percent from 32 percent
Fonterra’s sales to caterers and restaurants there are increasing more than 10 percent a year, said Christina Zhu, Fonterrra’s managing director in China.
Sales of mozzarella cheese surged 66 percent last year.
China’s 360 billion-yuan ($52 billion) consumer dairy market is dominated by local suppliers Inner Mongolia Yili Industrial Group Co. and China Mengniu Dairy Co.
Source: Bloomberg
https://www.bloomberg.com/news/articles ... ith-cheese