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Many Extra Crunch readers will not have heard of China’s fastest-growing bottled beverage company: Genki Forest is a direct-to-consumer startup that started selling its sodas, milk teas and other products just five years ago. Today, its products are available in 40 countries and the company hopes to earn $1.2 billion in 2021. After closing its latest funding round, Genki Forest is valued at $6 billion. Industry watchers frequently compare the upstart to giants like PepsiCo and Coca-Cola, but founder Binsen Tang comes from a tech background, having funded ELEX Technology, a social gaming company that found success internationally. “China doesn’t need any more good platforms,” Tang told his team in 2015, “but it does need good products.” Leveraging China’s robust distribution network, lighting-fast manufacturing capabilities and a vast pool of data that enables holistic digitization, Genki Forest sells more than 30% of its products online. “Everything feels right about th...

hog futures fall daily limit as China rebuilds its herd Chicago Mercantile Exchange (CME) lean hog futures fell their daily 3-cent limit on Wednesday, pressured by falling U.S. wholesale prices for pork products and news of increasing hog numbers in China, traders said. China’s pig herd rose 23.5% in May from a year earlier, state media said on Wednesday, citing the Ministry of Agriculture and Rural Affairs. CME hog futures tumbled as the figures raised questions about export demand from China, which has been a key buyer of U.S. pork since its herd, the world’s largest, was decimated by the deadly African swine fever virus. China’s herd plunged 40% in 2019, official data showed. More recently, as animal numbers rebound, live hog prices in China have fallen. #products #trader #traders #exchange #futures #china #unitedstates #price #number #product #prices #limit