A staff member places cartons of milk on refrigerator shelves at a supermarket in Beijing, China, May 21, 2021.
China is the world's third-largest milk producer, but last year's 34 million tonnes of output only met about 70% of domestic needs.
On the face of it, China's dairy market, worth some $62 billion in annual sales, is ripe for development.
"Average per capita consumption is still very low," Gao Lina, the CEO of China Modern Dairy Holdings Ltd (1117.HK) told Reuters.
China Youran Dairy is planning an IPO, seeking up to $800 million to expand its breeding herd and increase milk output.
Thomas Peter China, Gao Lina, graziers, Dou Ming, Grant Beadles
REUTERS, Beijing Orient Dairy, Euromonitor, China Modern Dairy Holdings, HK, Reuters, Nielsen, Modern, Food Co, New Zealand, United, U.S . Trade, China's Ministry of Commerce, General Administration, Customs, Thomson
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