Nov 9, 2023

(Yicai) Nov. 9 -- The sixth China International Import Expo in Shanghai has become a platform for subsidiaries of many leading Chinese companies from the food sector to showcase their international business. At the booth of Bright Food Group, one of the largest food and beverage companies in China, its New Zealand unit Silver Fern Farms inked deals with six firms, including Dingdong Maicai and Goodfarmer Foods Holding, to further explore the Chinese market of grass-fed red meat. New Zealand farmers and Chinese consumers are getting closer, and the magic happens when the farm can understand consumers' needs and deliver products and nutrition to them, Dave Courtney, chief executive officer of the Dunedin-based beef, mutton, and venison producer, said yesterday. China has been Silver Fern Farms's largest market for four consecutive years, benefiting more than 14,000 farmers in New Zealand and over 6,000 employees worldwide. The company was bought by Bright Food's unit Shanghai Maling Aquarius in 2016. Yili Group, a Chinese dairy products maker, appeared at the booth of its New Zealand subsidiary Oceania Dairy, exhibiting products including Satine Pure Milk, Jinlingguan Ruihu Infant Formula Milk Powder, and Westgold Butter. The goods came from Yili's integrated dairy production base in the South Island of New Zealand, an employee told Yicai. Hohhot-based Yili invested CNY3 billion (USD412.3 million) in the base, with the first phase being unveiled in 2014 and the second in 2017, becoming one of the largest local employers. At the booth of Western Australia's oldest milk producer Brownes Diary, a unit of dairy products manufacturer and distributor Shanghai Milkground Food Tech, its cheese blocks and cheese sticks for tasting were out of stock. Only some products of the parent firm and a 'cheese cow' sculpture weighing 800 kilograms were still around. In 2020, China Mengniu Dairy bought a 5 percent stake in Mildground, which acquired Perth-based Brownes in late 2017 from Australian private equity firm Archer Capital to enter overseas markets, starting by exporting cheese sticks to Australia and Southeast Asia. Ultra-high temperature milk maker Theland New Cloud Shanghai Digimart, who has participated at the CIIE every year since 2018, brought 12 New Zealand companies from the food, health care, beauty, and other industries, most of which made their debut at the exhibition. Pengxin Group-backed Theland New Cloud inked a CNY420 million (USD57.8 million) deal on the first day of the CIIE, which opened on Nov. 5 and ends tomorrow. Its weekly sales in China have jumped to 80,000 bottles from 3,000 since it first attended the CIIE. In addition, Theland New Cloud is likely to further expand its business because of new trade facilitation policies, which will cut tariffs on imported milk from New Zealand to zero next year, reducing tax on milk powder from 10 percent. "China continues to promote high-standard opening up and to share its huge market with the world, benefiting Chinese consumers and overseas investors," said Sheng Wenhao, CEO of Theland New Cloud for the Asia-Pacific Region. Editor: Martin Kadiev