February 10, 2011

China's dairy profits up 35.8% in Q4 2010 

China's dairy industry's profits totalled RMB2.95 billion (US$446 million) in the fourth quarter of 2010, a 35.8% rise on-year, according to data jointly released by the National Bureau of Statistics and the China Economic Industry Climate Index Research Centre.

The statistics show that China's dairy product output reached 5.83 million tonnes in the fourth quarter of 2010, an increase of 14.6% on-year or 5.4 percentage points higher than in the third quarter.

China's sales revenue of dairy products grew 19.9% on-year to hit RMB52.5 billion (US$7.95 billion) in the fourth quarter of 2010. The on-year growth rate accelerated 2.6 percentage points while the on-quarter growth slowed down 0.7 percentage points from third quarter of 2010.

The ex-factory price of dairy products rose 2.6% on-year in the fourth quarter of last year, which was 0.5 percentage points faster over the previous quarter.

Shares of Inner Mongolia-based Yili Industrial Group rose by 1.73% to end at RMB35.91 (US$5.43) per share and shares of Bright Dairy and Food increased by 0.93% to close at RMB9.72 (US$1.47) per share on Wednesday (Feb 9).