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CHINA FOOD INDUSTRY SALES MAY EXCEED US$585 BLN THIS YEAR
www.tradingmarkets.com by 2008-09-24   

Sales income of China's food industry this year may exceed four trillion yuan (US$585 billion), predicted Wang Wenzhe, president of China National Food Association.

According to Wang, gross output value in Jan.-July reached 2,333.292 billion yuan. Value added of food industry rose 15.86 per cent on year and sales income surged 34.6 per cent to 2,283.089 billion yuan.

Acceptance rate of foodstuffs including grain, meat, wine, beverage and snacks this year improved to 98.4 per cent, four percentage points higher than 2007's.

In view of existing food safety problems, food quality supervisor system and unqualified food recall system should be set up and food safety system be strengthened by Chinese producers, suggested Wang.

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