Fonterra chairman John Wilson, who led the business delegation of the trade mission to China, said in the company's latest Farmlink magazine that within seven years,
Chinese dairy consumption will reach 70 billion litres.
Not exact matches
Chinese dairy production and
consumption has soared in the past three decades, averaging a 12.8 % annual growth rate since 2000 as a result of changing diet trends that are shifting more toward Western foods, according to a report by the Institute of Agriculture and Trade Policy.
Already,
Chinese have made news for their massive cross-border retail
consumption on Kiwi imported foods like
dairy products, fresh produce, meat, honey, and health supplements.
«The enormous size of the
Chinese population, 1.35 billion people, means growth in per - capita
consumption has a big impact on total
Chinese demand, and in turn, total global demand,» the Commonwealth Bank's
dairy report said.