China’s food consumption in urban areas is set to keep its 4.6 percent compound annual growth over the next 10 years to hit US$1.1 trillion in 2026 as urbanization continues and disposable incomes rise, according to a joint research…Full Article: ECNS.cn Oct 2016

Key Point

  • The report, issued by Shanghai’s Bright Food Group and Rabobank (Netherlands), noted that the depreciation of the Chinese yuan (CNY) would diminish the profit of the country’s dairy industry by 15% in 2017.

ChinaAg Comment

  • On 11 August 2015, in order to kick-start its economy, the People’s Bank of China (PBC) devalued the yuan (CNY) by approximately -1.86%. The devaluation continued on for two more days, dropping a total of nearly -4.6% (USD/CNY) by the end of August 13th.

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