When Dukang Distillers Holdings, the producer of baijiu or Chinese liquor languishing on the Singapore Exchange Watchlist, decided to exit the business, it looked at one involving the humble Kiwifruit as replacement.
Despite its premium positioning among fruits, demand for kiwifruit has been growing over the years in China. Also known as Chinese gooseberry or monkey peach, the kiwifruit is high in vitamin C and dietary fibres and Chinese consumers have just been made aware of its health benefits, making them one of the largest consumers globally.
In fact, China is now the largest market for the renowned New Zealand kiwifruit brand Zespri, with China contributing 30% of global sales. In 2021, Zespri achieved record-high sales in China of over 70 million boxes.