Shanghai Pengxin Sets Sights on Importing More Brazilian Soybean

Shanghai Pengxin Group, one of China’s most acquisitive agricultural businesses abroad, plans to focus its attention on Brazil, with the aim of securing a future 30 million tonnes of soybean output from the South American country, writes Daniel Ren on the South China Morning Post website.

Ge Junjie, chairman of Pengxin’s subsidiary Dakang International Food & Agriculture, said the privately owned Shanghai firm has completed two acquisitions of Brazilian companies in the past year and more will follow, as China’s rising appetite for imported grain continues to soar.

Advertisement

“Brazil will be Pengxin’s focus,” he said. “Our goal is to create a synergy between the two markets.”

Founded in 1997 by chairman Jiang Zhaobai, Pengxin has evolving from being a real estate developer into a global buyer of agricultural businesses, and now has intentions of becoming one of the world’s largest grain traders.

Read more at SCMP.com.

Top Articles
Rainbow Agro Announces Manufacturing Expansion in North America

Hide picture