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

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.