China's beef consumption reporting a positive

That's according to Rabobank's newly released Q1 Global Beef Quarterly, which says it expects overall Chinese household consumption will rebound strongly in 2023 from the low base of 2022. Despite marginal growth in food and beverage retail and the impact of ongoing Covid restrictions on food services, there are positive signs of recovery. Rabobank agricultural analyst Genevieve Steven says they're seeing changes in the recent behaviour of Chinese consumers, who are becoming more pragmatic in spending money on products they perceive to be practical, valuable and worthy. However, she says weaker economic conditions will have some impact on Chinese beef consumption among lower-income groups. "But to other consumer groups - mainly younger generations, middle to high income families and health-conscious people - beef is perceived to bring better taste, more health benefits and different eating experiences compared with traditional meats. "We see beef trading both up and down as ...