With the increasing share of food and beverages being exported to China, many countries are exporting their food products to China. Recently, three dairies from Korea received approval for their milk. The demand for Korean milk in China is high. A year back, several Australian wineries attracted Chinese investors. The fastest growing economy in the world is attracting attention of several foreign food and beverages companies. China offers an emerging market for several of these companies.
Recently, Scotland has been added to the list of countries in which Chinese consumers will be investing it. The overall food and drink exports to China has spiked by 12% to around £85 million last year, as per data by the First Minister Nicola Sturgeon. On the other hand, the Scotch Whiskey Association in a report shows that the direct exports to Scotland fell by 23% to £39 million in the previous year, which made Scotch as the 26th largest market on the basis of value.
A fund worth £3 million is now set up, which will allow whisky connoisseurs from China to invest in some of Scotland’s rarest dreams. This fund will be employed to buy the rare and valuable malts for the China market. This project was announced Ms. Sturgeon. During her mission in China, the minister will open the Whisky Experience Centre in Beijing. This center will display the production process of malt whisky with the pictures and items right from the distilleries.
This move comes from Scotch whisky businesses that are aiming to boost their sales in China that have been hit by a current austerity campaign that was held by Chinese authorities. Ms. Sturgeon is expected to promote the Scottish business and host an innovation showcase for the Scottish firms to meet with their Chinese investors.