World - Salt And Pure Sodium Chloride - Market Analysis, Forecast, Size, Trends and Insights
China's Salt Production Reached 64.6M Tonnes
Salt output in China reached 64.6 million tonnes by 2013. China's salt production showed mixed dynamics over the last few years, but ultimately increased by 2.1% in physical terms from 2007 to 2013. In 2013, though, it was estimated at 4.6 billion USD, which was 526.8 million USD (or 10%) less than the peak production level recorded in 2012.
Salt production in China dates back to ancient times. Not only did salt play an important role in Chinese history and economic development, but it is also an essential component of "5 flavours", the basis of Chinese cuisine.
In the mid term, due to gradual market saturation and an unstable economic situation that influence the main consuming sectors, Chinese growth in salt consumption is expected to slow to 5.5% (currently +9.1%). In the past, salt consumption was fueled by rising purchasing power, but this engine of growth is now under pressure from the current economic slowdown.
The share of imports was low on the Chinese salt market, as it was dominated by local producers. The main suppliers of salt into China were Australia and India, with a combined share of 81.1% of total imports in 2013. However, the fastest growing suppliers from 2007 to 2013 were Denmark (114% per year) and India (100% per year).
China's salt exports, at contrary, grew by 21.1% per year from 2007 to 2013, amounting to 112.2 million USD in 2013. Over the period under review, the Republic of Korea (36.3%), Japan (33.4%) were the leading destinations of Chinese exports, together making up 69.7% of total exports in physical terms. While the share of Japan increased, the share of the Republic of Korea illustrated negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
Source: IndexBox AI Platform
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