Eyeing growing appetite among Chinese consumers for premium meat, Uruguayan meatpacker Rondatel SA is looking to expand export of its distinctive black-pack meat products to the Chinese market. The slick packaging is eye-catching, and it also has an innovative label that tracks the contents from pasture to plate…Full Article: China Daily Feb 2019
- Based in Colonia Department, southwestern Uruguay, and acquired by the Shenzhen listed Sundiro Holding (see Foresun Group aka Heilongjiang Hengyang Cattle Industry), Rondatel S.A. exported approximately USD 80 million worth of meat (40% of total exports) to China in 2018.
- In November 2018, Rondatel S.A. participated in the inaugural China International Import Expo (CIIE) trade fair.
- In May 2018, Uruguay’s Minister for Livestock, Agriculture and Fisheries announced that export agreements relating to the entry of live cattle (fattening/slaughter) and blueberries had been signed with China.
- In March 2018, the Uruguay Embassy in Beijing hosted a wine and beer tasting event whose attendees included representatives from the China Association for Importers and Exporters of Wine and Spirits.
- In January 2018, China’s Foreign Minister visited Montevideo and stated that China is hopeful to negotiate a FTA with Uruguay and other South American countries.
- In November 2017, China’s Sundiro Holding (SHE:000571) acquired two Uruguayan beef processors, Lirtix S.A. and Rondatel S.A.
- In February 2017, Uruguayan Foreign Minister stated that hoped to hold FTA negotiations with China and that Mercosur countries would follow suit. Other member states of Mercosur (Argentina, Brazil, and Paraguay) may be hesitant to permit a Uruguayan free trade agreement due to trade concerns such as Chinese goods avoiding tariffs by being re-exported duty-free to other members.
- In October 2016, China’s Premier met with the Uruguayan President in Beijing, while at the same time Uruguay’s Minister of Agriculture was expected to visit Henan Province. During the same month, Uruguay’s Gamorel S.A. (founded in 2005, headquartered in Salto, northwestern Uruguay) planned to export blueberries to China after Chinese inspectors had issued their final approval.
- In August 2016, China’s Zhengzhou airport in Henan Province imported Canadian blueberries for the first time.
- In July 2016, China’s Sundiro Holding (see Foresun Group aka Heilongjiang Hengyang Cattle Industry) acquired a 50% stake in Uruguayan meat (beef, chicken, pork, lamb) supplier Lorsinal S.A. for USD 16.6 million.
- In January 2016, Foresun Group (Heilongjiang Hengyang Cattle Industry) was reportedly planning a back door listing (i.e. private company acquires a listed company) via a reverse merger with Sundiro Holding (SHE:000571), a mining and motorbike manufacturing company with the assistance of CDH Investments and DT Capital Partners. Sundiro Holding (SHE:000571) and Foresun Group would eventually merge as a result.
- From 2015 to 2016, Chinese imports of Uruguayan beef reportedly increased 15.8% to 188,411 MTs.
- From 2010 to 2013, Chinese imports of live cows increased from 87,990 heads of cattle to 102,245 heads of cattle. During this time only Australia, New Zealand, and Uruguay supplied mainland China. Australia had the dominant share of Chinese market with an average import share of approximately 60% (by volume) during the four year period. New Zealand was the second largest supplier (~27% import share), followed by Uruguay (~13% import share).
Hong Kong Trends