Visitors taste dried cherries at an exhibition booth in the American Food and Agriculture Pavilion at the 7th China International Import Expo on November 8, 2024. The pavilion has an exhibition area of 240 square meters, showcasing various agricultural products from multiple US companies and organizations. Photo: Chen Xia/GT
US food and agricultural companies are actively seeking opportunities at the 7th China International Import Expo (CIIE), and have already successfully secured numerous deals.
They also expressed strong optimism about the Chinese market, driven by evolving consumption patterns, and conveyed their aspirations for sustained cooperation.
On Friday, Highland Hay International, a US alfalfa hey producer, signed two deals with Chinese companies at the American Food and Agriculture Pavilion at the CIIE.
The two contracts are worth a total of $10 million, and throughout the CIIE the total deal volume could exceed $100 million, Ao Qi, an employee of Highland Hay International, told the Global Times on Friday.
"This substantial procurement amount will ensure that our factory in the US operates at full capacity, potentially for a year or even longer," Ao said.
Alfalfa hey is a crucial component for dairy cows, enhancing milk quality and overall productivity.
China is the firm's biggest market, Ao said, with over 95 percent of its alfalfa products sold to China. The Chinese market also represents an opportunity for continued growth, as China's milk quality keeps improving, Ao noted.
The excitement and optimism is shared by other US food and agricultural companies.
This year, AmCham Shanghai and the US Department of Agriculture opened the American Food and Agriculture Pavilion at the 7th CIIE for the second time, which has a larger area of 240 square meters.
Fourteen exhibitors showcased products at the pavilion, including beef, poultry, wine, rice, whiskey, dairy products, cotton, food packaging and pet food, according to AmCham Shanghai.
Martin Anderson, another US agricultural trader in the American Food and Agriculture Pavilion, attended the CIIE in person for the first time this year. His family-owned company, Anderson Northwest, has participated in the event for six consecutive years, focusing on exports of a variety of dried peas and lentils.
"The CIIE is incredibly large," Anderson told the Global Times on Friday, expressing his desire to explore the entire venue, but he was too busy handling business to leave his booth.
Manuel Garibay, manager of industrial sales at Royal Ridge Fruits, said his firm wanted to promote its dried cherries to the burgeoning Chinese market.
"While we are starting connections here and meeting potential clients, they have so far shown a lot of interest in our products," Garibay told the Global Times on Friday.
Garibay said that he sees significant market potential in China, given its large population and rapidly growing middle class.
"Currently China is our second-largest market after the US. Our goal is to make it our number one market within the next 10 years," he said.
Linbo Zhu, president for China at ADM, a US-based grain trader and processor, said that with the transformation and expansion of China's economy, there is growing consumer demand for high-quality, healthy, and sustainable food options.
"ADM is steadfast in its commitment to China and remains dedicated to fostering an environment of mutual benefit and shared prosperity," Zhu told the Global Times in a statement.
During the expo, ADM aims to sign strategic cooperation agreements with top Chinese grain enterprises with a total contract value exceeding 22 billion yuan ($3.075 billion), according to the company.
China is currently the world's second-largest consumer market, boasting a middle-income group that exceeds the total population of the US, the Xinhua News Agency reported.
Over the past 45 years, bilateral trade between China and the US has seen an over 200-fold expansion. More than 70,000 US companies have invested and operated in China, according to China's Ministry of Commerce (MOFCOM).
China is willing to strengthen communication, expand cooperation and resolve differences with the US for sound and sustainable development of bilateral economic and trade relations, a spokesperson for MOFCOM said on Thursday, Xinhua reported.
Trade between China and the US, China's third-largest trading partner, reached 4.01 trillion yuan in the first 10 months of this year, up by 4.4 percent year-on-year.
