Can you tell us about LDC’s strategic developments in China?
LDC's business development in China is intricately linked to the country’s broader macro environment and market opportunities. We have observed a gradual economic recovery in China following the pandemic, and China's middle class is continuously expanding. The consumption power of the Chinese market, particularly in third- and fourth-tier cities, is on the rise, which indicates the economy’s resilient and long-term growth. In particular, we note that Chinese consumers prioritize quality, consumption upgrades and health as essential factors in their purchasing decisions. Looking ahead, it is imperative to closely align future business developments with these prevailing trends and consumer preferences. This is why we are working to deliver sustainable and nutritious plant-based feed, ingredient and food options to Chinese customer and end consumers.
What are the main focus areas for strategic developments in China?
LDC’s strategic development in China is focused on several key areas. Firstly, we aim to grow our presence in the feed protein sector, particularly high-end offerings. To achieve this, we have established a pilot plant for feed protein production in Dongguan and are setting up an R&D center in Shanghai. Our facilities in Tianjin and Nansha will soon establish processing and production bases for high-end feed protein. Secondly, we aim to maximize the added value of products, leveraging healthy, plant-based by-products and ingredients such as lecithin and fatty acids, generated during core oil production activities through further processing, for supply to chocolate, candy and bakery producers. We will also explore pharmaceutical and oleochemical applications. Thirdly, we will increase our investment in R&D to create LDC’s own range of healthy and environmentally friendly packaged food and beverages, including bottled juices, packaged food and coffee products, and other offerings – some of these under our own consumer brands catering to Chinese and global customers.
What does LDC’s 50th anniversary in China mean to you?
China is a huge market with tremendous potential. After 50 years, and with continued investment in technology and R&D, I believe we can envision significant continued growth in the country to attain a leading market position across our target segments: feed, protein, food ingredients, and packaged food and beverages. LDC’s future prospects in China offer an exciting vision for the company’s long-term success!
