Aug 31, 2021
Monthly Digest: China Food Sector in August 2021
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Contents

  • Breaking News

  • Big corporate events

  • Investment and financing updates

  • Interesting & Noteworthy new products

  • Some impressive figures

Breaking News

1. Australian media The Australian reported that New Zealand headquartered a2 Milk could be the target of a takeover, with Nestlé possibly an interested buyer. a2’s 2021 annual report (30 June 2020-30 June 2021) shows that the Group experienced a challenging year, with revenue declining 30.3% to $1.21 billion. Find out all you need to know here.

1-12.pnga2 2021 Annual Report

2. Unilever's vice CEO Xiwen Zeng admitted in a recent interview that Magnum used different ingredients in its ice cream products on the Chinese market and international market, proving the earlier accusation of "double standard" to be true. Unlike using condensed milk in the ice cream for the European market, Zeng stated Magnum used reconstituted milk (milk powder with water) in China due to lack of fresh milk supply. Read here to find out more.

2-8.jpgThe Magnum ice creams

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Shine Hu
ChemLinked Research Analyst
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