Wikispanishfood editorial team
Data shows that Spanish agri-food exports to China performed well in 2014, exceeding 500 million euros for the first time ever (506.6 million), an increase of 18% year-on-year.
As has become the trend, Spanish exports to China experienced double-digit growth in all four quarters of 2014. However, despite these good results, there was a notable slowdown in the first few months of 2014 due to the Chinese New Year and to austerity measures by the new government, especially in connection with institutional gifts, while households also cut back on wine, alcohol and olive oil.
The most popular products continue to rank high, such as meat and pork offal, with 233.7 million euros; wine, with 83.5 million euros, and olive oil, with 71.4 million euros. These three product categories account for 77% of all exports to China.
As regards meat products, the sales volume has increased six-fold in just three years, and Spain is the fourth-leading exporter of meat and pork offal to China, after the US, Denmark and Germany.
As for wine, the trend has changed since 2008, when sales of bottled, labeled wine with a DO started to become very popular, making it an identifiable beverage and, therefore, enhancing customer loyalty.
However, and despite the sector's favorable data, olive oil exports tumbled by 22% with respect to the previous year. This is mainly due to the existence of large inventories at certain Chinese importers, and to global prices during the last harvest, which set a world record,resulting in downward pressure on prices.
It's also worth noting the entry on the market of olive oil from rival countries, such as Tunisia and Turkey, which rank 3rd and 4th in terms of olive oil exports to China, ousting Greece, and which, together with Morocco, have achieved a total market share of over 10%.
However, China also values other Spanish exports, such as dairy products for baby food, beer, olives, sunflower oil, fruit juice, cured ham, yogurt, honey, grape concentrate, and citrus fruits, among others, sales of which have increased notably with respect to 2013.