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China Agricultural Newsletter - February 2018

The China Agricultural Update is provided by the Iowa Economic Development Authority's (IEDA) office in China, which is operated by Phoenix Consulting LLC. Ms. Wendy Zhang, IEDA's trade specialist in the China office, can provide customized market research information for your company. For more information on how to utilize the services offered by IEDA's Beijing Office, please contact Mr. Joseph Rude at joseph.rude@iowaeda.com.

Laws, Regulations and Policies

Policies released on China's rural vitalization

 China on Sunday released a package of policies under the "No. 1 central document" of the year, charting the roadmap for the country's rural vitalization strategy.

China terminates import duties on U.S. broiler chicken

 China's Ministry of Commerce (MOC) announced Tuesday that it had removed anti-subsidy and anti-dumping duties on U.S. white-feathered broiler chickens.

China to review anti-dumping duties on EU potato starch

 BEIJING - China will review anti-dumping duties levied on potato starch imported from the EU which are due to expire, the Ministry of Commerce (MOC) announced on Monday.

China launches anti-dumping investigation into U.S. sorghum imports

 China has launched an anti-dumping and anti-subsidy investigation into imports of sorghum grown in the U.S., the Ministry of Commerce (MOFCOM) said in a statement on Sunday.

China steady in opening up finance industry

 Following eased controls on foreign-owned shares in financial institutions last year, China has forged ahead with opening up its finance industry with measures to expand the scope of business and market access for foreign banks.

China updates "sensitive sectors" for outbound investment

 China on Sunday updated its list of "sensitive sectors" for outbound investment subject to additional regulation, deleting telecoms and electricity and adding the arms industry and several high-profile sectors.

Industry and Business

China reports faster farm produce prices rise

 China's farm produce prices rose at a faster pace in the week ending Feb. 11, the Ministry of Commerce said Tuesday. The price index for farm produce went up 2 percent in the past week, compared with a 0.9-percent expansion the previous week. The index for production materials edged down 0.3 percent.

Fresh food e-commerce booms in China

 BEIJING - Lobsters from Boston, cherries from Chile and organic tomatoes. With a simple click on a mobile phone, fresh food from around the world can be delivered to your doorstep within a couple of hours.

China imported less pork in 2017; domestic production up 2%

 Chinese fresh/frozen pork imports in 2017 fell drastically by 25% to just over 1.2 million tonnes from the previous year, reflecting the ongoing recovery in Chinese domestic production.

Finnish pork on Chinese tables lends hope to local industry

 HELSINKI - For the first time, Finnish pork, renowned for its high quality, joins the ranks of other foreign brands that are served on Chinese dinner tables.

UK hopes to export beef to China within 6 months

 The UK’s beef sector anticipates the lifting of China’s BSE (bovine spongiform encephalopathy or mad cow disease) ban within six months if a visit from Chinese inspectors this spring is successful, AHDB Beef & Lamb said last week.

China's poultry industry production, sales weak in 2018

 China’s production of chicken meat is expected to decline further in 2018, contracting to 11.1 million tons from the 11.7 million tons estimated for 2017, while demand is also predicted to be lower than in recent years, forecasts the USDA.

Pesticide technical material prices rise as Chinese New Year nears

 Ahead of the imminent Chinese Spring Festival, most of the country's long-distance transport services have come to a stop. Pesticide technical material enterprises are not able to run production at full load due to restrained supply of intermediates, which has led to a high price situation. All formulation enterprises have been endeavoring to push delivery of orders placed earlier, so as to fulfill the production needs in February and March, particularly of the large output herbicide varieties.

British food exports to China increase by 28%

 China became the eighth-largest importer of food and drink from the United Kingdom in 2017, according to new data that shows a growing Chinese appetite for British milk powder, salmon, whisky, and beer.

China may overtake UK in wine consumption

 China is likely to displace Britain as the world's second largest wine consumer, in terms of value, by 2021, according to research from Vinexpo, one of the largest exhibitions for wine and spirits professionals globally, and the UK-based International Wine and Spirit Research.

American whiskey eyes China as major growth market: industry leader

 NEW YORK - With its increasingly urbanized population and rising middle class, China is a major growth market for American whiskey, a US industry leader has said.

Medicine imports, exports rise as supply-side reform succeeds

 Leading Chinese medicine and health products makers are keeping a foothold in developed countries as they foresee sustainable growth momentum in mature markets.

Alibaba uses AI to get smart on pig husbandry

 BEIJING - Chinese e-commerce giant Alibaba has decided to use AI technology to help China boost its pig-husbandry industry, which has long been plagued with poor efficiency and high labor costs

Irish company wins deal to supply beef to China

 DUBLIN - A leading Irish beef supplier announced on Thursday that it has signed a 50-million-euro ($61.6 million) contract to supply beef to China's mainland and Taiwan.

Red Sun to acquire 60% stake in Ruralco, moving to market terminal

 Chinese agrochemical company Nanjing Red Sun has announced to acquire 60% stake in the Argentine agrochemical company Ruralco. The acquisition is expected to take place in two phases, where, in the first phase, Red Sun will spend its own fund of $8 million to acquire the 26.6667% stake in Fernando Diego Gimbatti, as held by five natural persons. In the second phase, Red Sun will contribute $15 million in kind to Ruralco as a capital increase to acquire 33.3333% stake in Ruralco. Upon completion of the acquisitions in two phases, Red Sun will hold some 60% of the shares in Ruralco.

Milk power maker Suvow Co gets organic product certification

 Suvow Co Ltd, a Chinese milk powder provider affiliated with Reward Group, just gained registration for nine of its organic product formulas, according to the China Food and Drug Administration's website.

Chinese agricultural firm Farmmi rings Nasdaq opening bell to celebrate its IPO

 NEW YORK - Chinese agricultural products supplier Farmmi Inc on Monday rang the Nasdaq Stock Market opening bell in celebration of its Initial Public Offerings (IPO).

Hayao picks 40% stake in GNC, to also form new JV

 Harbin Pharmaceutical Group Holding Co Ltd, better known as Hayao, said it will invest about $300 million in GNC Holdings Inc, potentially becoming the single largest shareholder in the US company with a 40-percent stake.

Alibaba hungry for top spot in food delivery market

 The country's food delivery market is edging closer to duopoly amid a rumored deal that would pit the nation's top two internet firms in direct competition.

JD to expand presence in Europe

 JD, one of China's leading online retailers, will challenge Amazon.com Inc in Europe by establishing operations across the continent within the next few years, said the firm's boss.

Scottish ale maker eyes China market

 Scottish craft beer maker BrewDog is planning to open a brewery in China to capitalize on the country's rapidly growing market for premium beer.

China's leading agricultural insurer to create digital model

 China United Property Insurance Co Ltd, the country's major insurer specializing in agricultural insurance, will build a digital agricultural insurance model along with the National Engineering and Technology Center for Information Agriculture, aiming to establish a leading insurance system for the industry.

Statistics

Market Price of Major Agricultural Products in Circulation, February 1-10, 2018

 

Products

Units

Current Price

(CNY)

Price Change over Previous Period

(January 21-30, 2018, CNY)

± Rate (%)

Rice (Japonica Rice)

ton

4361.4

6.4

0.1

Wheat (Third-Class of National Standard)

ton

2565.7

1.8

0.1

Corn (Second-Class of Yellow Corn,)

ton

1800.4

4.4

0.2

Cotton (Ginned Cotton, Third-Class of White Cotton,)

ton

15457.1

 2.6

 

0.0

Live Pig (External Triple Crossbreed)

kg

13.4

-1.2

-8.2

Soybean

ton

3828.3

-5.4

-0.1

Soybean Meal (Crude Protein Content≥43%)

ton

2922.1

-19.3

-0.7

Peanut (Oil Peanut)

ton

6238.1

-36.9

-0.6

Urea (Small Granule)

ton

2056.8

-4.6

-0.2

Compound Fertilizer (Compound Fertilizer of Potassium Sulfate)

ton

2530.0

90.6

3.7

Pesticide (Glyphosate, 95% Technical Material)

ton

25187.5

-532.8

-2.1

Source: China National Bureau of Statistics

 
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