Australian products such as peanut butter and honey can fetch huge premiums in China, a new report shows.
Coming off the back of the newly signed Chinese Free Trade Agreement, the Australian government has released a paper called E-commerce in China to help local businesses understand the lucrative Asian market.
Nielsen research estimated Chinese online shoppers spent about $US16.3 billion on imported products in 2014.
Driving the demand are growing incomes of the middle class and access to technology.
And while duties, tariffs and delivery costs need to be added when exporting products overseas, the price differences between an Australian product sold locally and the same thing sold in China can be massive.
Squeezable Australian honey sells for a whopping 261% more in China compared to Australia, while smooth peanut butter is costs 426% more – costing over $20 a jar.
Here’s the table.
The market size is huge with an estimated 18 million online shoppers willing to buy internationally from China. Just 39% of those have purchased from Australia.
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