China's farm products and food-ingredient consumption market totaled about 4.68
trillion yuan in 1H, up 2.02% YoY. Retail sales were ~3.55 trillion yuan
(+1.76%), remaining dominant; foodservice was ~1.13 trillion yuan (+2.82%), the
main growth driver. Price divergence pronounced: pork continued to test lows,
beef and mutton rose from elevated levels, and vegetable and fruit volatility
increased seasonally. Trade: beef and seafood imports rose sharply, while pork
and vegetable imports continued to shrink.
