Rabobank: Yili retains leadership position in Asia
Chinese dairy giant Yili has focused on innovation, upgrading its product range, as well as improving its brand influence to reach its goal of becoming the top five among global dairy producers. [Photo/Yili Group]
Chinese dairy giant Yili ranked ninth among global dairy firms, according to the latest Global Dairy Top 20 list released by the Netherlands-based Rabobank on July 26.
Rabobank examines turnover in the dairy industry in order to produce its rankings.
Yili retained its position as the largest Asian player on the list, with its dairy turnover reaching over 68.06 billion yuan ($9.9 billion) in 2017, up 12.29 percent year on year.
It has continued to show strong growth over the past several years. Since 2014, Yili has had five entries in the top 20 list.
According to its earnings, Yili generated total revenues of over 60 billion yuan in 2015 for the first time, an increase of 10.88 percent on the previous year. In the first quarter of 2018, it saw its revenues rise by 25.1 percent.
Yili has previously stated that it wants to become one of the top five global dairy producers, and earn annual revenues of more than 100 billion yuan.
Song Liang, a Chinese dairy expert, noted that Yili's increasing global presence shows its determination to achieve that goal.
To move further up the list, the dairy producer has focused on innovation, upgrading its product range as well as improving its brand influence.
It has improved the group's quality control system as well as its industrial chains to make its way into the top five.
Yili has become a strong engine to power the revitalization of China's dairy industry and it will lead the nation's dairy industry to a new era, said Song.
Recently, the State Council unveiled its plan to further promote the dairy industry, creating a sound environment for the further development of Yili.