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January 3, 2018

China’s Drex Food ‘to invest in Belarus dairy farms’

China's Drex Food Group is said to be investing US$400m in dairy farms and milk processing facilities in Vitebsk Oblast in Belarus.

By Dean Best

China’s Drex Food Group is said to be investing US$400m in dairy farms and milk processing facilities in Vitebsk Oblast in Belarus.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
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  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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An agreement was reportedly signed in December between Drex Food’s president Dai Shiwei and Nikolai Sherstnev, the governor of Vitebsk Oblast. 

Drex Food was founded in 2008 and is the largest dairy firm in China’s Henan province with a herd comprising 21,000 cows. As well as milk, the company produces beef and tea, and is listed on the national stock exchange.

Construction is said to start this year and will be completed within two years. The first phase of the project will be to build a farm for 20,000 cattle with a target to increase the herd to 50,000. Drex will produce its own goods at the plant as well as products for companies in Belarus. 

As part of the agreement, firms in Vitebsk will have the opportunity to export their products to China.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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