A famous global item dropped in price by 90% just because China did this

Published 2024년 9월 5일

Tridge summary

The article highlights a significant shift in the foie gras market, particularly in China, where the price has plummeted to just 100 yuan per piece due to the strong presence of domestic breeders. This price drop was influenced by the initial high prices of premium French foie gras, which were largely due to its exclusivity and limited production. However, China's Huoqiu County in Anhui Province has become a major player in the industry, starting in the 1980s and overcoming technical challenges to produce high-quality foie gras. The county's production techniques and improved feed have resulted in a low occurrence rate of blood plaque, and the industry has seen substantial growth, with nearly 150 companies and an estimated revenue of 2 billion yuan. China's production now accounts for approximately half of the global output, leading to a significant reduction in the price of French foie gras.

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Original content

This item was once associated with luxury and the rich, but is now “popularized” with an extremely accessible price. For a long time, French foie gras has been considered a symbol of luxury and is almost exclusively for the rich. In the Chinese market, premium foie gras can be sold for tens of thousands of yuan per piece (equivalent to tens of millions of dong to more than hundreds of millions of dong per piece). However, now, the price of foie gras in China has “vertically” dropped to only 100 yuan per piece due to the strong entry of domestic breeders. Foie gras produced in China are even exported to more than 30 countries, including famous markets that are strict about quality such as the European Union and Japan. Initially, high-quality French foie gras could be sold for tens of thousands of yuan per piece, basically due to the scarcity of production. Because not all geese can be raised for liver. Only certain breeds such as Landes geese can produce high-grade foie gras ...

Source: 24h newspaper