FT story.
Cargill CEO (see other post today) says the growing appetite for processed food, meat and dairy from Western sources has reversed fears that the Great Recession would trigger a significant drop. The shift to a more Western diet over the past ten years held solid through the crash, unlike in other crashes where typically the locals turn to cheaper traditional staples.
Gregory Page called the demand "remarkably resilient."
This time around contrasts greatly with the Asian "flu" of 1998-99, when a decade of dietary change was wiped out in 2 quarters.
Again, so much for deglobalization and the great distinctiveness of Asian tastes.