Shanghai Maling Aquarius Co Ltd, a unit of the State-owned Bright Food Group Co Ltd, is acquiring a 50 percent stake in New Zealand’s biggest meat cooperative for NZ$311 million ($197 million), as China looks to import more agricultural products to satiate demand from consumers. Sheep and beef exporter Silver Fern Farms said on Tuesday [15 September 2015] that the stake sale will give it funds to repay debt and boost exports. Consequent to the deal, Shanghai Maling will become the top beef and lamb processor in China, with expected operating revenues of 25 billion yuan ($3.9 billion) to 30 billion yuan…Full Article: ECNS.cn Sept 2015
- New Zealand’s Silver Fern Farms reportedly controls 27% of the country’s beef and lamb exports. Within New Zealand, the farm cooperative is the market leader in terms of beef and venison product, and second in regards to lamb. Silver Fern Farms’ primary competitor is Fonterra.
- From 2010 to 2014, Chinese (incl. Hong and Macau) imports of sheep meat from New Zealand increased from more than 50,700 MTs to 165,000 MTs. The next largest supplier, Australia, saw their supply to China increase from nearly 42,000 MTs to 135,800 MTs over the same time period. Imports from Uruguay totaled almost 9,000 MTs in 2014. China primarily imports frozen bone-in sheep meat cuts.
- Founded in 1997 and headquartered in Shanghai, Shanghai Maling Aquarius is a meat producer and processor. Its product line includes processed meat, canned meat, spices, and canned fish. The company is a subsidiary of Bright Food Group and is listed on the Shanghai Stock Exchange (SHA: 600073).
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