Lockwood Smith: Red Meat Needs More Product Research
With the red meat sector going through a boom time with high prices, the time is right for the industry to step up its investment into developing new food products.
He says the recovery in the Chinese market will not happen overnight but says he senses it's moving in the right direction, although he adds that one should not expect to see the same high prices for product of a few years ago.
Boulton says the market is going to be far stronger in the protein space - particularly for the high-quality products that NZ sells.
"The Chinese middle class is forecast to grow from 400 million to 800 million people, and they are really conscious about where their food is grown, and they care about sustainability. They have got a strong green agenda and that plays into our offering from SFF, so there is still a very affluent growing middle class segment that we will be targeting," he told Rural News.
According to Boulton, the mood of the Chinese consumers is quite buoyant - something that hasn't been seen for a few years. He says looking forwards, pricing in that market is starting to lift with investment growth in retail stores.
Boulton says they have got some deep relationships with their customers and partners who want to grow SFF brands.
He says the situation is being helped by the stimulus packages being provided by the Chinese government to kickstart their economy.
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Boulton's comments come after spending a week attending the Chinese International Import Expo (CIIE) at which NZ launched its $8 million three-year publicity campaign to get Chinese consumers to buy our high-quality meat products.
