China’s multidecade dairy boom sours as population ages, sales slump

Quick Summary:

Sales of top dairy firms like China Mengniu and Inner Mongolia Yili fell between 9 and 13 per cent in the first half, S&P said.

The report added that the downturn was likely to be temporary and that China’s dairy market will continue to grow, albeit at a slower pace.“A shrinking population and moderating economic gains will translate to a likely 2 to 3 per cent compound annual growth rate [CAGR] in volume sales over the next two decades – half the rate of the prior two decades,” S&P said.

Sales of the country’s top dairy firms fell between 9 and 13 per cent in the first half of 2024, according to the report published by the rating agency on Monday.

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Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChinaMongolia

Topics: Fell Population China’s Sales China According Report Dairy Revenue Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 07:00:11 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 234 words

Reading Time: 2 minutes read

Sentences: 4 lines

Sentence Length: 59 words per sentence (average)

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Copyright Owner: © SCMP

News ID: 23860611

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