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 TAIWAN UPDATE The Philippine market is one of the fastest growing markets for Canadian beef. Year to date (YTD) May, the Philippines imported 2790 tonnes of beef and beef offal from Canada valued at CAD$7 million. A younger demographic is the leading consumer of beef and this population is well-versed in online grocery shopping and food delivery. To take advantage of this trend, CBII worked with a large warehouse-style grocery chain Landers Philippine. They ran an online promotion in July with three AAA Canadian beef items including rib eye, top blade, and striploin steaks. The promotion was available online and in physical store locations. To highlight the promotion, CBII worked with 10 influencers including high-profile chefs, food writers and bloggers who then sampled and posted about Canadian beef. The reach of the promotion is expected to be over 2.5 million viewers.  TAIWAN COVID-19 update COVID-19 restrictions in Taiwan continue as a result of the high number of confirmed cases in July. The government extended the restriction period a third time, from July 14 to July 26. Restaurants have only been able to offer takeout service since late May. Revenue has dropped 40% for most restaurants. Importers are facing a high inventory of chilled beef items due to low market demand. CHINA COVID-19 update China's economy continues to recover. It is forecast that the Gross Domestic Product will reach over 8% by the end of the year given that the pandemic is well controlled. China's imported beef demand remained strong. Year to date (YTD) May, beef import total volume was up 18% compared with last year. Due to supply issues, Australian beef imports in China continued to fall while U.S. beef imports are seeing huge increases thanks to the Phase I trade deal between the U.S. and China. U.S. beef imports in May have overtaken Australian beef imports and ranked fifth in terms of volume and third in terms of value in May. In Hong Kong (HK), restrictions on gatherings and foodservice operations remain although some have been loosened. To stimulate local consumption and to support the vaccination campaign encouraged by government, the foodservice industry launched a 30% discount on dinner July 15-August 31 available to consumers with at least one dose of vaccine. Due to the uncertainty of travel restrictions, HK retail and foodservice businesses are still relying on local customers and businesses have yet to recover. Back to main page  China and SE Asia team Angie Xu, Deana Keo, Iris Sung, Rachel Zhange |
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