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China, China, China: Rabobank
Story Date: 1/3/2013
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Source: Rita Jane Gabbett, MEATINGPLACE, 1/1/13
China will continue to drive agricultural commodity demand for the next decade, according to 350 food, beverage and agribusiness industry executives polled by Rabobank.
China, the global economy and weather extremes stand out as key issues for North American food industry, the poll showed; with 61 percent of respondents projecting China as the country or region that will most impact global agricultural commodity demand over the next 10 years.
“These results are not surprising and reflect the significant impact that China has had on the food and agribusiness industry over the past 10 years, globally as well as in North America,” said Bill Cordingley, head of food and agribusiness research and advisory for Rabobank in the Americas.
He noted China today has the second largest middle class in the world at 157 million, which will surpass the U.S. middle class in the next 10 years.
“Our North American clients in the food, beverage and agriculture sectors see opportunities to play a role in the Chinese market, not only as exports but also as investors in the country’s domestic growth by bringing technology, know-how and capital to support development of a more modern, safe food system in China,” said Cordingley, in a news release.
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