UNLIMEAT Pulled Pork Wrap Now Available at All Starbucks Stores in HK

UNLIMEAT announced on the 16th the launch of its Pulled Pork Wrap at Starbucks stores throughout Hong Kong. The UNLIMEAT Pulled Pork Wrap is a fully plant-based product containing UNLIMEAT's pulled pork, along with refreshing carrot, vibrant red cabbage, and crisp lettuce, all wrapped together for a satisfying and guilt-free meal.

Since first entering Hong Kong in 2020, UNLIMEAT has expanded its presence by partnering with world class Chinese restaurants such as Mott 32, Crystal Jade, and Trust Congee King, providing these restaurants...

ANALYSIS: South American Beef Exporters Diversifying Beyond China In 2024

As we approach the end of the first quarter of 2024, a subtle yet discernible trend is emerging among major South American beef exporters, particularly Brazil and Uruguay. These countries are showing a tendency towards exploring attractive markets for their beef exports. This strategy doesn't signify a major shift away from China, remaining as the world's largest beef consumer, but rather an adaptive response to diversify their export destinations.

This trend becomes evident when analyzing the beef export data up to February 2024 (frozen, fresh or chilled)...

Another 38 Brazilian Slaughterhouses Can Export Meat to China

Number of license issuances in a single advertisement is the highest ever recorded in history

In the year in which Brazil celebrates 50 years of diplomatic relations with China, another 38 Brazilian meat processing plants were authorized to sell meat to the Asian country, according to a statement from the General Administration of Customs of China (GACC) sent to the Ministry of Agriculture and Livestock (Map) this Tuesday ( 12) .

38 licenses were granted, including eight chicken slaughterhouses, 24 cattle slaughterhouses, a beef thermoprocessing establishment and five...

ANALYSIS: South American Beef Exporters Diversifying Beyond China In 2024

As we approach the end of the first quarter of 2024, a subtle yet discernible trend is emerging among major South American beef exporters, particularly Brazil and Uruguay. These countries are showing a tendency towards exploring attractive markets for their beef exports. This strategy doesn't signify a major shift away from China, remaining as the world's largest beef consumer, but rather an adaptive response to diversify their export destinations.

This trend becomes evident when analyzing the beef export data up to February 2024 (frozen, fresh or chilled)...

Wen’s Food Group Reports Approx. $9 Bln Loss in Pig Business for FY 2023

Wen's Food Group, a major Chinese food conglomerate specializing in pig breeding, processing, and distribution of pork products, provided a detailed breakdown of its FY 2023 losses during a recent conference call with investors.

Previously, in January, Wen’s Food Group announced it expected a year-on-year loss between CNY 61-67 billion (approximately $9-10 billion) for FY 2023. The company attributed this loss largely to a decrease in the Chinese market hog and broiler prices...

ANALYSIS: January's Shifting Trends in Brazilian Beef Export Dynamics

The recently released  Brazilian export data for January unveiled significant shifts in the beef market, signaling a slightly broader diversification of Brazilian beef export destinations early this year.

While China remains the dominant player, its share saw a slight decline, as frozen boneless beef exports to China dropped by 11.8% from the same time of last year, amounting to a massive volume of 96,329 metric tons (MT) compared to 98,857 MT for the previous January, aligned with a 9.49% reduction in the average price per MT. This decline in prices reflects...

China to Encourage Hog Farmers to Reduce Capacity After Price Slump

China will "guide" farmers to reduce hog production capacity as it steps up regulation of the industry, the agriculture ministry said on Tuesday, after an aggressive expansion drive led to an oversupply of pigs and heavy losses.

Big agribusinesses in the world's top pork producer have modernised farms and expanded pig herds so rapidly in recent years that a downturn in demand led to plummeting hog prices, mounting losses, and rising debt last year.

Farmers lost an average of 76 yuan ($10.60) per hog in 2023...

REPORTER: Tariffs Loom Based On Alleged Dumping Of Chinese Pea Protein Into The U.S.

This article was originally featured in the WINTER 2024 Edition of Urner Barry’s Reporter magazine.

In July, the US International Trade Commission (ITC) and Department of Commerce (DOC) launched an investigation into alleged dumping of pea protein that could result in higher tariffs. The investigation was prompted by industry participants in the United States, who issued a formal complaint stating that imports of pea protein from China are harming the U.S. domestic industry because the imports are unfairly subsidized and sold at price levels below...

Russian Pork Exports to China Gear Up Following Lifted Bans and Bilateral Protocol

In addition to Beijing scrapping regional restrictions for some Russian farm exports, the Russian Federal Service for Veterinary and Phytosanitary Supervision announced its plans to commence pork exports to China in January 2024. This follows a bilateral inspection and quarantine protocol in December 2023, which was signed during the 28th conference between the heads of government of China and Russia.

On 25 December 2023, Abi, a leading Russian processed meat producer, announced the initiation of product exports to China, marking the beginning of this new trade development...

JD.com Wins Antimonopoly Suit Against Alibaba 

Alibaba Group was found to have abused market dominance and engaged in monopolistic practices, JD said, citing a court filing

Chinese e-commerce giant JD.com said it won a lawsuit against rival Alibaba Group Holding, which was fined 1 billion yuan ($140.7 million) over monopolistic practices.

Zhejiang Tmall Network, Zhejiang Tmall Technology and Alibaba Group were found to have abused market dominance and engaged in monopolistic practices, causing severe damages to JD.com, it said in a statement Friday, citing a Beijing court ruling.

The practice known as "choosing one between the two" forces...

KFC China Celebrates the Opening of Its 10,000th Store

Yum China Holdings, Inc. today celebrated the opening of KFC China's 10,000th store, marking a significant milestone in KFC China's 36-year growth journey in the country.

Situated in Hangzhou, KFC China's 10,000th store is located on the banks of the Beijing-Hangzhou Grand Canal, a historically important link connecting northern and southern China. Since opening its first store in Beijing in 1987, KFC has grown into the country's largest QSR brand in terms of system sales. This growth has been underpinned by a world-class in-house supply chain management...

McDonald's to Acquire Carlyle's Stake in McDonald's China

McDonald's Corporation (NYSE: MCD) and global investment firm Carlyle (NASDAQ: CG) today announced that McDonald's has agreed to acquire Carlyle's minority ownership stake in the strategic partnership that operates and manages McDonald's business in mainland China, Hong Kong and Macau.

The CITIC Consortium, mainly through its equity affiliate CITIC Capital, will maintain its controlling ownership stake. Upon completion of the transaction, the CITIC Consortium will continue to own 52%, and McDonald's will remain a minority partner while increasing its stake from 20% to 48% ownership... 

China Issues Ban on Irish Beef After Atypical Case of BSE Confirmed

Beef exports to China from Ireland have been stopped after a case of atypical bovine spongiform encephalopathy (BSE) was detected in a bovine animal.

In a statement seen by Irish media outlets, the Department of Agriculture, Food and the Marine (DAFM) said that tests carried out at the department’s Central Veterinary Research Laboratory confirmed a case of atypical BSE on 3 November.

It is reported that the animal in question was a 10-and-a-half-year-old cow. It did not enter the food or feed chain...

Where Are Commodities Prices Headed?

Individuals investing in commodities haven't had a smooth ride over the past few years.

U.S. crude-oil futures briefly turned negative during the height of the pandemic in 2020 before rebounding to more than $82 a barrel recently. World food prices reached their highest level on record last year, in part as the Russia-Ukraine war spooked markets, but have fallen back more recently. And commodities from lumber to copper rode high and then fell, as global inflationary pressures and recession concerns drove trading.

So what happens next...

Yum China Reports Second Quarter 2023 Results

Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC and HKEX: 9987) today reported unaudited results for the second quarter ended June 30, 2023.

Second Quarter Highlights

- Total revenues increased 25% year over year to $2.65 billion from $2.13 billion (a 32% increase excluding foreign currency translation ("F/X")).

- Total system sales increased 32% year over year, with increases of 32% at KFC and 30% at Pizza Hut, excluding F/X. Growth was mainly attributable to same-store sales, new unit contribution and lapping of...

U.S.'s Yellen Begins China Visit with Both Sides Locked in Confrontation

U.S. Treasury Secretary Janet Yellen arrived in the Chinese capital on Thursday, beginning a four-day visit expected to focus on easing ties between the world's two largest economies, despite low expectations on both sides.

Yellen received a low-key welcome from a Chinese finance ministry official and the U.S. envoy to China, Nicholas Burns, as she stepped off a government aircraft just after a rainstorm brought some relief to an otherwise sweltering Beijing.

Both sides are sceptical that Yellen's visit will be able to take much heat...

U.S. Red Meat Industry Makes Presence Known at SIAL China

An eye-catching location and expanded pavilion with spacious public reception areas, private meeting spaces, meat sample displays and a separate cooking area for product tastings were among the pieces in place to ensure a prominent presence for the U.S. red meat industry at SIAL China in Shanghai. Twelve members joined the USMEF Pavilion at the show, which hosted 175,527 attendees from 67 countries during the three-day event.

These elements were part of a blueprint designed to tout grain-fed U.S. beef and pork as top quality and show...

U.S., China Start Talking Again, With Global Economic Order at Stake

Washington and Beijing are talking again. The test now is whether they can settle into a new normal that avoids upending the global economy—or fall back into a cycle of acrimony and retaliation.

Treasury Secretary Janet Yellen heads to China on Thursday through Sunday to meet with senior government officials, her department said Sunday. The trip comes as tensions over trade, technology and Taiwan prompt both countries to reconsider the deep commercial and investment ties that have defined the relationship for decades. Yellen is hoping to preserve...

US Official Visits Taiwan to Discuss US-Hosted APEC Meetings

A senior U.S. official charged with handling ties with the Asia-Pacific Economic Cooperation (APEC) bloc visited Taiwan this week for talks on his country's plans to host the grouping this year, the de facto U.S. embassy in Taipei said on Friday.

APEC is one of the few international organisations to which Chinese-claimed Taiwan belongs, since Beijing, which views the island as a Chinese province, and not a country, blocks its participation in most others.

Against the backdrop of military tension between Beijing and Taipei, past APEC summits have...

Cargill to Sell China Poultry Unit to Private Equity Firm DCP Capital

U.S. agribusiness giant Cargill said it is selling its poultry business in China to private equity firm DCP Capital, exiting a Chinese meat market that has become increasingly challenging, especially for foreign players.

The sale of the unit known as Cargill Protein China is subject to regulatory approvals but is expected to close this year, Cargill said in a statement on Wednesday.

It did not give a transaction price and DCP declined to comment on the deal.

China is the world's No.2 poultry producer after the...

Circana: China’s Foodservice Industry Showing Signs of Recovery

China’s foodservice industry received a much-needed boost in the third quarter of 2022 as government-mandated COVID-19 restrictions were lifted. However, that boost was met with a Q4 decline. The start of 2023 has shown that the industry in China is back on track, according to the latest findings from Circana Market Intelligence, formerly IRI and The NPD Group.

Circana’s latest “China Foodservice Market Sentiment Snapshot” broke down how the impact of outbreaks and lockdowns set forth in 2022 had a massive impact across 22 cities tracked in China...