China Market, World Opportunity: More premium beef imports to meet growing demand
Updated 13:36, 04-Oct-2018
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Despite lagging domestic production, China is the largest consumer of beef and has long relied on imports. With a growing demand for premium meat, consumers are getting more opportunities to taste high-quality beef products from around the world. CGTN reporter Wu Lei has this story.
A steak sizzling on the grill. Often seen as a symbol of western cuisine, beef – particularly imported beef – is now gaining popularity across China. Ding Qianyu has been a regular customer at this beef restaurant in Shanghai. She loves steak so much, that she's now able to distinguish between different types of imported beef.
DING QIANYU CUSTOMER "I eat more Australian and American beef than Canadian beef. American beef is slightly sweeter. The smell of American beef is completely different from that of Australia's. The taste is quite distinct."
Many parents also say eating high-quality beef is a healthier choice.
WEN WEN CUSTOMER "With less fat, beef nutrition is higher than pork. Eating beef is good for our health. My daughter also likes to eat imported beef."
Despite all the acclaim for premium beef, annual per capita consumption of beef in China is far below the world average, and domestic beef production is struggling to meet market demand.
ZHU XIAOJUNMANAGER, PC WOK STEAKHOUSE "Consumers are becoming more and more professional about beef. They are willing to spend more money on high-quality beef products. We plan to open more chain stores and increase imports of high-quality beef from abroad."
WU LEI SHANGHAI "These slabs of beef here in front of me come from Australia, the US and Brazil. Today Chinese consumers have more options than ever. And with rising incomes and changing dietary habits, demand for premium imported beef is expected to grow in the coming years."
According to a recent report from the Chinese Ministry of Agriculture and Rural Affairs, the total amount of imported beef in China was almost 700,000 tons in 2017, which is expected to rise with an annual average growth of 7.6 percent over the next decade. Xu Wei has been running one of Shanghai's largest food importers for over 15 years. Last year, his company was among the first in China to cash in on the booming market after authorities lifted a ban on US beef.
XU WEI GENERAL MANAGER, SHANGHAI NEW SOURCE INT'L TRADING COMPANY "Over the past few years, we have increased beef imports from over 10 countries. As China will host its first ever import expo, we as importers really hope to meet more high-quality suppliers."
Both consumers and traders have high expectations for China's increase in imports. All related parties are expected to benefit from the country's huge market potential. WL, CGTN, SH.