Food and Beverages: Liquor growth increases Wine continues to decline year-on-year

Liquor output growth rebounded in January: The output of the liquor industry in August was 615,500 kiloliters, an increase of 27.46% year-on-year, and the growth rate was 6 percentage points higher than that of the same period last year. From January to August, the cumulative output was 5,279,600 kiloliters, an increase of 27.14% over the same period of last year. The growth rate was 5.6 percentage points higher than that of the same period of last year and 0.8 percentage point higher than that of January-July. It is estimated that the annual liquor production growth will be 20%.

The growth rate of beer production continued to rebound and is expected to increase by 6% to 8% throughout the year: beer production in August was 5.4091 million liters, a year-on-year increase of 12.73%, and the growth rate increased by more than 7 percentage points over the same period of last year. It was presented for three consecutive months. The growth rate picked up; from January to August, the cumulative output was 31.946 million kiloliters, an increase of 6.53% over the same period of last year, and the growth rate was basically the same as that of the same period of last year. Looking at the whole year, we expect this year's beer production growth will be 6% to 8%.

The monthly output of wine continued to decline year-on-year, and import growth continued to remain high: In August, the output was 72,800 kiloliters, a year-on-year decrease of 1.16%, and the growth rate was 45 percentage points lower than the same period of last year; cumulative production from January to August was 636,000. Thousands of liters, a year-on-year increase of 14.93%, an increase of 2.7 percentage points over the same period of last year, which is 2.3 percentage points lower than that of January-July. Given the high base for the start of wine production growth in August last year, the growth rate in the coming months will continue to increase. Maintaining a relatively low position, it is expected that the annual domestic wine production growth will be around 15%.

The monthly output growth of yellow rice wine fluctuates greatly, and the accumulative growth rate remains stable: In August, the output of domestic rice wine was 61,200,000 liters, a year-on-year decrease of 0.72%, and the growth rate was 31% lower than the same period of last year; the output was 8.324 million in January-August. The increase was 12.85% year-on-year, and the growth rate was basically the same as that of the previous year.

The output of dairy products grew steadily, and the rising power of raw milk continued to exist: the output of dairy products was 1.932 million tons in August, an increase of 13.73% year-on-year, and the growth rate was 4.3% higher than the same period of last year; the cumulative production from January to August was 13.705 million. Ton, an increase of 9.9% year-on-year, an increase of 10% over the same period last year. In August, the purchase price of raw milk in the main producing areas in China rose by 1.4% to 2.93 yuan/kg, and raw milk prices will continue to rise under the joint supply and cost.

The growth rate of fresh and frozen meat production continued to increase month-on-month. The hog price will continue to rise: the August output of fresh and cold meat was 1.7851 million tons, an increase of 20.24% year-on-year, and the growth rate was down by 20 percentage points from the same period of last year, but the growth rate was on a sequential basis. From January to August, the cumulative output was 13.2866 million tons, a year-on-year increase of 27.05%, and the growth rate was down 12% from the same period of last year. The low-level operation of the live pigs in the previous period and the low proportion of the new breeders' sows indicate that hog prices will continue to increase in the coming months to the first quarter of next year.