Chinese Government Desperate to See Zhongpin and AgFeed Succeed
19 Ottobre 2011 - 2:16PM
Marketwired
China's pork imports have skyrocketed this year as rising feed
costs, increasing wages and concerns about more outbreaks of
disease has made Chinese producers reluctant to boost output.
Favorable government subsidies are expected to benefit large-scale
producers in the future, and encourage them to boost production.
The Bedford Report examines the outlook for companies in China's
Consumer Goods Sector and provides equity research on AgFeed
Industries, Inc. (NASDAQ: FEED) and Zhongpin, Inc. (NASDAQ: HOGS).
Access to the full company reports can be found at:
www.bedfordreport.com/FEED
www.bedfordreport.com/HOGS
Chinese authorities -- who view affordable pork as "important
for social stability" -- have lifted subsidies in an effort to
revive the domestic pig industry. The Chinese Government says that
it will invest $390 million in large pig farms this year and that
all farmers and pig farms will receive a subsidy of at least $15
for every sow they raise.
A report from Agrimoney.com finds that the large-scale operators
that the government is particularly keen on encouraging "report
that difficulties in acquiring additional farm land are hampering
their expansion plans."
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Last month Zhongpin Inc, a leading meat and food processing
company in the People's Republic of China, announced that the trial
production at its new prepared pork products plant in Tianjin has
begun. The new prepared pork products plant will have an annual
production capacity of about 36,000 metric tons. The total
investment in phase 2 was approximately $22 million.
AgFeed Industries continues to be a growing player in China's
hog production sector. AgFeed and the local government together act
in partnership with local farmers to secure the necessary
financing, provide the necessary guidance, technical and
nutritional support in order for the farmers to improve their
productivity.
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