Meat consumption set to grow in China
Updated: 2012-09-04 10:35
Meat consumption in China, the highest in the world, will continue to grow even as the economy slows, sustaining demand for feeds made from corn and soybeans, according to Cargill Inc, the biggest US agricultural company.
"We are looking at a mega-trend of increasing consumption of meat, milk, eggs," said Christopher Langholz, president of Cargill Animal Protein China.
Rising incomes in China have increased demand for meat, including pork, making the nation the largest buyer of soybeans, which are crushed to feed pigs and chicken. Soybean and corn surged to record prices in Chicago last month as the worst US drought in half a century cut supplies.
"China has been very transparent in soybeans, so the market can respond," Langholz said. The transparency allows exporters to increase their ability to produce, reducing price volatility over time, he said.
China Daily - Agencies