5th December 2023 China / Zespri
Zespri is looking to sell 40% more kiwifruit to Greater China next year as competition heats up and the economy slows down.
The salmon farmer signs an exclusive distribution agreement that could deliver it sales of up to $10m as it looks to build back its fluctuating China business.
Zespri and its board advisor Sir John Key have met with China’s foreign minister to discuss the illegal plantings of SunGold kiwifruit in the country.
A Chinese company with $48bn of international assets including 70 science parks is looking to New Zealand to explore the opportunity of developing a local food, health and tech incubator.
The fall in exports to China is continuing, according to Stats NZ, which said the total value of goods exported to China in the year ended September 2023 was $19.3bn.
The outlook for growth from New Zealand’s biggest export market looks “highly uncertain”, according to the government’s Pre-election Economic and Fiscal Update 2023.
The trade surplus with China was $2bn in the June 2023 quarter, according to figures released by Stats NZ.
Fresh from co-leading a business delegation to India last week, the Auckland Business Chamber is taking 30 New Zealand businesses to China on Friday.
Zespri has signed a strategic cooperation agreement with its two largest distributors in China in an effort to bank a 50% uptick in sales over three years.
Comvita has signed what the company described as “a significant long term partnership” with Olé supermarkets in China.
Mānuka honey specialist Comvita reported record sales in the recent 618 shopping festival in China, up 12% compared with last year’s event.
New Zealand Trade & Enterprise says the business delegation travelling with Prime Minister Chris Hipkins to China will have the dual aims of boosting the economy as well as New Zealand’s relationship with the Asian giant.
Container service T.S Lines has arrived at Wellington’s CentrePort.
Dairy companies A2 and Anchor, mānuka specialist Comvita and pet food company Ziwi were among the top ten New Zealand brands sold to China via Alibaba Group on the annual Singles Day shopping event.
Falling foodservice spend is hitting sheepmeat export volumes hard, with Rabobank identifying further downside risks for the sector.
Shanghai port congestion could prolong elevated freight prices, while the foodservice shutdown means strong headwinds for dairy demand.
Kiwifruit exporter Zespri has estimated that Illegal plantings of New Zealand’s gold kiwifruit in China have doubled in the last year.
Upgrades to New Zealand’s free trade agreement with China will enter into force on 7 April.
Food exports were strong in H1 but it’s an uneven recovery from Covid for infant formula, cherries and some seafood.
What does shifting demand mean for the future of the informal channel, which plays a big role for NZ brands such as A2 Milk?