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On the Chinese part of the Asia agri-food trade mission, chief financial officer of Wyeth nutrition Matthew Quinton told the Irish Farmers Journal that he thinks milk prices have bottomed out.
“We all agree that prices have hit rock bottom in the last few months and we already see signs of recovery,” said Quinton, who sees prices rising in the next six to 12 months. “This is for me just a matter of time, we see household income growing.”
On the Chinese economy, he said that “China is still growing 6% to 7% GDP, one of the highest growths in the world”.
Ireland stands for quality he says and is also recognised for its research and development capabilities. Wyeth promotes the message of origin green in China.
Opportunity
“The total value of the food market here is €700bn and expected to grow to €1,000bn by 2020,” said Minister for Agriculture Michael Creed, who said there is massive opportunity in China.
On creating a trade agreement with China, he said that “we have pooled our sovereignty with Europe”, adding that we still have access to the market and can compete with companies from other countries.
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