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独立经济研究者,东方艾格农业、食品分析师,新华社特约经济分析师。农民出身,从事粮食加工技术、粮食棉花的行业、世界经济、公司战略研究,尤其关注中国粮食安全、宏观经济和国际食品企业的研究。 每日接受来自世界各地媒体关于粮食、棉花、物价、宏观经济的等以民生内容的采访。 现利用网络窗口便利同大家进行交流。

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Added value of China’s food industry broke through 2 trillion yuan in 2016  

2017-02-27 15:33:27|  分类: 食品行业研究 |  标签: |举报 |字号 订阅

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Data from the National Bureau of Statistics show that in 2016, the sales revenue of food enterprises (excluding tobacco, similarly hereinafter) above designated size nationwide increased 6.63% which passes the growth rate (4.18%) of all industrial enterprises; the added value of food industry increased 6.25% which is higher than the growth rate (5.00%) of all industries, the growth rates of sales revenue and added value continued to rise; the growth rate of total profits of food industry was 6.47% and lower than that of all industries (8.26%), and saw decline. The added value of China’s food industry broke through 2 trillion yuan for the first time and reached 2.0205 trillion yuan.

In terms of number of enterprises, there has been 41,494 food enterprises above designated size in China by the end of December, increasing 5.00% year on year, the percentage is higher than the growth rates of all agricultural product processing enterprises (2.08%) and all industrial enterprises (1.28%). The number of food enterprises above designated size accounted for 10.94% of the total number of all industrial enterprises. Among these enterprises, the numbers of farm and sideline products processing enterprises, food manufacturing enterprises and beverage enterprises (including liquor, beverage and tea making) respectively were 25853, 884410 and 6797, separately increasing 3.84%, 6.99% and 6.96% year on year.

As for the condition of assets, by the end of December, total assets of food industry has reached 6.5631 trillion yuan, accounting for 6.14% of total assets of all industrial enterprises; total liabilities of food industry has been 3.0848 trillion yuan, accounting for 5.18% of that of all industrial enterprises; asset-liability ratio of food industry was 47.00%, decreasing 0.75% year on year and accounting for 84.24% of that of all industrial enterprises, which shows that food industry operates stably as a whole.

Among total assets, liquid assets of food industry totally were 3.3533 trillion yuan and accounted for 6.76% of national total liquid assets, quick assets ratio of food industry was 51.09%, about 1.10 times of that of national industrial enterprises. The proportion of liquid assets of food industry was much higher than that of all industrial enterprises. Relatively low asset-liability ratio and high quick assets ratio raised the operation capacity of food industry and showed stable operation.

Monetary assets of food industry deducting inventory, finished products and accounts receivable were 1.5216 trillion yuan and accounted for 45.38% of total liquid assets of food industry and 6.75% of monetary assets of all industrial enterprises.

Total assets and liquid assets of food industry respectively increased 6.34% and 5.87% year on year, and corresponding growth rates of all industrial enterprises respectively were 6.86% and 6.14%. The growth rate of food industry was lower than that of all industrial enterprises. Total liabilities of food industry increased 4.67% which’s lower than the growth rate (6.14%) of all industrial enterprises.

Total amount of receivables of food industry was 554.3 billion yuan, reaching a year-on-year growth rate of 10.56%, which’s higher than that of industries (9.82%). Total amount of inventory was 900.9 billion yuan, increasing 5.45% year on year; total amount of manufactured inventory was 376.5 billion yuan, reaching a growth rate of 5.70% which’s higher that the growth rate ( 2.72%) of all industrial products; relatively rapid growth of these three indexes shows intensifying competition of food industry.

From the perspective of operation situation of food industry, main business income of food industry reached 9.4546 trillion yuan in 2016, accounting for 9.6% of the operating revenue of all industrial enterprises and increasing 6.63% year on year; total profits of food industry were 724.8 billion yuan, reaching a year-on-year growth rate of 6.47% which’s lower than the growth rate (8.26%) of all industries. Total profits of food industry accounted for 10.53% of all industrial profits, and this percentage is a little lower than the proportion of the number of food enterprises.

Management and capital operation efficiency of food industry: operating profit ratio of food industry was 6.53% in 2016, seeing slight decrease from the year before; this ratio still is 1.09 times of that of all industrial enterprises; return on total assets of food industry was 11.04% and 1.71 times of that of all industrial enterprises; total assets turnover and liquid assets turnover of food industry respectively were 1.69 times and 3.31 times in 2016, which all are higher than that of all industrial enterprises. Relatively high turnover raised capital operation efficiency of food industry and capital profitability.

Operating costs of enterprises: costs for main businesses of food industry were 9.4546 trillion yuan, increasing 6.63% from the year before and accounting for 9.60% of that of all industrial enterprises. In addition, expenditures for sales, management and finance of food industry reached 840.95 billion yuan and accounted for 9.99% of that of all industrial enterprises. Specifically, costs for sales and management respectively were 444.4 billion yuan and 313.6 billion yuan, respectively increasing 6.53% and 7.09% year on year and accounting for 14.50% and 7.14% of that of all industrial enterprises. The growth rate of sales costs and management costs passed the growth rate of sales income, marginal utility declined; finance costs were 573 million yuan, decreasing 1.16% year on year and accounting for 5.73% of that of all industrial enterprises. Moreover, interest expense in finance costs was 6.47 million yuan, reaching a decrease rate of 4.91% which is lower than that of all industrial enterprises and much lower than that of prime rate provided by nonfinancial institutions. It shows that food industry can’t enjoy the favorable credit rate provided by the state.

Costs structure: costs for main businesses of food industry accounted for 91.83% of total costs, which is a little lower than that of all industrial enterprises (91.88%). As for agricultural and sideline products processing industry, the proportion of main business costs was up to 94.64% and much higher than that of all industrial enterprises; the proportion of sales, management and finance costs was 8.2% and higher than that of all industrial enterprises (8.1%).  In food industry, the proportion of sales cost was high relatively and accounted for 4.32% of total costs, which’s 1.51 times of that of all industrial enterprises. Sales cost of food manufacturing industry and beverage industry respectively accounted for 7.78% and 8.20% of their total costs, which raised the proportion of sales cost of food industry. In agricultural and sideline products processing industry, the proportion of sales cost was 2.21% and lower than that of all industries (2.86%).

Management cost and finance cost respectively accounted for 3.05% and 0.81% of total costs, and separately were 74% and 69% of that of all industrial enterprises; interest expense accounted for 0.63% of total costs and was 60% of that of all industrial enterprises. Loan proportion of food industry was lower, so interest expense was relatively low. Low management cost and finance cost of food industry are one of the main driving forces of high profits of enterprises. 

Added value: synthesizing sales revenue, product inventory and main business costs of enterprises, the added value of food industry was 2.0205 trillion yuan in 2016, increasing 6.25% year on year and accounting for 9.79% of that of all industries; and the growth rate was much higher than that of all industrial enterprises (5.00%). Value-added rate of sales revenue of food industry was 18.21% and higher than the 17.93% of all industries, of which, the value-added rates of agricultural and sideline products processing, food manufacturing and beverage respectively were 13.60%, 22.84% and 29.52%. The value-added rate of beverage industry ranked only second to that of tobacco industry (74.70%) and medicine industry (34.26%), and was the third highest among 41 industries. Extremely high value-added rates of tobacco industry and medicine industry were brought about by trade monopoly for institutional factor, while high value-added rate of beverage industry was caused by market monopoly for marketing.

Monthly operation situation: monthly operating revenue of food industry was 1.1674 trillion yuan in December, increasing 12.62% year on year and accounting for 9.70% of total operating revenue of all industries. Of that, the monthly operating revenues of agricultural and sideline products processing, food manufacturing and beverage respectively were 735.23 billion yuan, 241.43 billion yuan and 190.74 billion yuan, separately increasing 13.37%, 10.27% and 12.78% year on year.

Added value of food industry: the added value of food industry was 219.32 billion yuan in December, increasing 9.85% year on year and accounting for 10.98% of added value of all industries. The monthly added value of all industries increased 15.56% year on year. The monthly added value for agricultural and sideline products processing, food manufacturing and beverage respectively was 77.31 billion yuan, 43.8 billion yuan and 40.72 billion yuan, separately increasing 10.67%, 2.23% and 15.89% from the year before. Growth of monthly added value of food industry saw obvious increase, but was lower than the growth of that of all industries. Sharp price rise of industrial products brought about great growth of added value of industries in December.

Profits of food industry: total profits of food industry were 96.03 billion yuan in December, reaching a year-on-year growth rate of -0.20%, which was much lower than the growth rate (3.70%) of all industries. Among that, monthly profits of agricultural and sideline products processing, food manufacturing and beverage respectively were 50.4 billion yuan, 21.95 billion yuan and 23.68 billion yuan, separately increasing 4.28%, -13.14% and 4.69% from the year before. Monthly operating profit ratio of food industry was 8.23%, of which, the monthly operating profit ratio for agricultural and sideline products processing, food manufacturing and beverage respectively was 6.85%, 9.09% and 12.32%; corresponding monthly operating profit ratio of all industrial enterprises was 8.23%.

Operating liquidity risks of food industry (monthly liquidity risk ratio= (month-end manufactured inventory +month-end receivables)/monthly turnover*100): monthly liquidity risk ratio of all industries was 137.5%. The overall risk assets ratio was 79.73%; by varieties, liquidity risk ratio for agricultural and sideline products processing, food manufacturing and beverage respectively was 78.20%, 98.89% and 101.88%. Increase of receivables of enterprises at the end of 2016 led to the decline of liquidity risk ratio which still was in a relative high level. Enterprises should make good tracking and investigation on customers’ credit, especially fully monitor risks by big data and Internet of Things, and then lower the risks to the minimum, greatly raise capital usage efficiency, increase annual turnover of working capital, greatly promote the capital profit ratio of enterprises and realize sharp rise of profitability.

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