China’s new beef tariffs expected to favour New Zealand exporters
Additional tariffs introduced by the Chinese Government last month on beef imports should favour New Zealand farmers and exporters.
Yili expects to record a modest gain in sales this year as China’s dairy consumption is recovering after a post-Covid slump.
From July to August, Yili’s revenue from its liquid milk business climbed by around 5% from a year ago, and the second half is expected to be better than the first six months of this year.
Since July, liquid milk has been in high demand again and a multi-year slowdown in the firm’s milk powder business is also showing signs of bottoming out.
It’s early days, but Yili’s announcement would bode well for NZ dairy exporters who rely on China for much of its sales.
