CPEC and the Opportunity for Agriculture

Posted by Matt Hopkins|3 August 2017

China is the world’s largest importer of agricultural products. In 2015, China imported $160 billion worth of agricultural products. However, Pakistan’s share in these exports was minuscule — less than half a percentage point — despite having a large agrarian base and a shared border with China, writes Hasaan Khawar on Tribune.com.pk.

With a population of 1.3 billion people, China consumes almost $1 trillion worth of food every year. With increased urbanisation and rising incomes, Chinese consumption patterns are also changing, and demand for high quality imported food items is growing at a pace much faster than population growth. Therefore, the domestic consumption is expected to grow by another $500 billion in the next 10 years. According to Bloomberg, it takes about one acre of arable land to feed an average US consumer. With present population, China only has about 0.2 acre per citizen, which is going to be far short of future requirements, considering the evolving demand.

The world is therefore keenly focusing on China, with international conglomerates and food giants making long-term China plans. They expect the country is going to be the biggest growth driver in future.

Read the full story on Tribune.com.pk.