South Korean media: China is rising as a leader in the luxury food market!
On January 23, South Korean media "Finance News" published an article stating that China is rising as a leader in the luxury food market, including caviar, foie gras, macadamia nuts, and truffles.
These luxury ingredients were previously dependent on imports, but China's production is rapidly increasing. Now, China has exceeded self-sufficiency and begun to challenge the leading countries of the global market.
The UK's Financial Times said that China currently dominates the global luxury food market.
The control of China over the high-end ingredient market is most evident in the caviar market. Since the 1990s, China's caviar production has grown rapidly, changing the global caviar trade landscape.
The "Karuwa Queen" brand, developed by experts from the Chinese Ministry of Agriculture, is currently the world's largest caviar supplier. Last year, its production reached 260 tons, accounting for 35% of the global supply.
According to the International Trade Centre, in 2012, China's caviar exports were approximately $12 million, accounting for 14% of the global exports. However, by 2024, due to the Russia-Ukraine conflict, Russian caviar exports were blocked, and China's caviar exports surged to $98 million, accounting for 43% of the global exports.
China is also shining brightly in various high-end ingredient markets besides caviar.
China's production of macadamia nuts has surpassed Australia, becoming the second-largest producer in the world. Yunnan's production has surged, exceeding Australia, which used to provide seedlings to China.
Cherry cultivation, especially in Shandong Province, is expanding continuously, and it is expected to reach about 900,000 tons last year.
Production of foie gras and truffles is also growing steadily.
China's production of high-end food raw materials is lowering global prices. There is a saying in the market: "Once the world's precious fruits arrive in Yunnan, their prices will drop significantly."
This means that China imports expensive fruit seedlings, researches and cultivates them in Yunnan, then produces them on a large scale at low cost, thus lowering global prices.
China is rapidly dominating the global market by exporting its products. A fast supply chain is its winning strategy. China is transforming from a "world factory" into a "world base for high-end food raw materials".
Original: toutiao.com/article/1855091620244555/
Statement: The article represents the views of the author.