CHINA’S DAIRY CONSUMPTION IS REBOUNDING FASTER THAN EXPECTED, THANKS TO MARKETING SPEND, GOVERNMENT PUSH
July 1st, 2009
BY MARK GODFREY
RECOVERING from last year's disastrous melamine poisoning scandal, China's dairy sales rose 12.4% in the first quarter of 2009, compared to figures for the last quarter of 2008 according to Rabobank. The Yili Group, China's second-largest dairy producer, announced first quarter 2009 profits of US$19.5 million - double what it earned in the previous quarter. Market leader Mengniu has said it will reverse a US$150 million loss in 2008 to a profit of at least US$100 million in 2009.
Offering confidence that the recovery will continue, Song ...
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